Brookfield Asset Management (NYSE:BAM) Announces Earnings Results, Beats Expectations By $0.01 EPS

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) issued its earnings results on Wednesday. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01, Zacks reports. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%.

Brookfield Asset Management Stock Down 1.3 %

NYSE BAM opened at $54.90 on Wednesday. The stock has a market cap of $24.33 billion, a P/E ratio of 48.50, a PEG ratio of 2.18 and a beta of 1.46. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $62.61. The company’s 50-day simple moving average is $56.45 and its 200 day simple moving average is $50.86.

Analysts Set New Price Targets

Several brokerages recently commented on BAM. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. UBS Group initiated coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average target price of $56.58.

About Brookfield Asset Management

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.