Brookfield Asset Management Ltd. Announces Quarterly Dividend of $0.38 (NYSE:BAM)

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) announced a quarterly dividend on Monday, November 4th, Zacks reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.38 per share by the financial services provider on Tuesday, December 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, November 29th.

Brookfield Asset Management has a dividend payout ratio of 91.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Brookfield Asset Management to earn $1.67 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 91.0%.

Brookfield Asset Management Stock Up 1.4 %

Brookfield Asset Management stock opened at $55.56 on Wednesday. Brookfield Asset Management has a 12-month low of $30.59 and a 12-month high of $57.36. The stock has a 50-day simple moving average of $47.46 and a 200 day simple moving average of $42.45. The stock has a market capitalization of $24.68 billion, a price-to-earnings ratio of 49.17, a P/E/G ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same period in the previous year, the firm earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Brookfield Asset Management will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

BAM has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research report on Tuesday. Scotiabank boosted their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a report on Tuesday. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Bank of America increased their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $52.29.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.