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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) declared a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, November 29th.

Brookfield Asset Management has a payout ratio of 88.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Brookfield Asset Management to earn $1.79 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 84.9%.

Brookfield Asset Management Stock Down 1.0 %

Shares of NYSE BAM opened at $57.26 on Thursday. The company’s fifty day simple moving average is $51.84 and its 200 day simple moving average is $44.33. Brookfield Asset Management has a 12-month low of $33.45 and a 12-month high of $58.53. The firm has a market cap of $25.36 billion, a PE ratio of 50.67, a P/E/G ratio of 2.31 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $0.35 EPS. On average, equities analysts predict that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BAM shares. Scotiabank lifted their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company upped their target price on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 5th. BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group upped their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $53.46.

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.