Brookfield Asset Management (BAM) Releases Quarterly Earnings Results, Misses Estimates By $0.21 EPS

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) posted its earnings results on Thursday. The financial services provider reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.21), MarketWatch Earnings reports. The company had revenue of $14.86 billion for the quarter. Brookfield Asset Management had a return on equity of 3.74% and a net margin of 5.49%. Brookfield Asset Management’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 EPS.

NYSE BAM opened at $41.40 on Friday. The firm has a market capitalization of $41.19 billion, a PE ratio of 15.47 and a beta of 1.03. Brookfield Asset Management has a 52 week low of $37.22 and a 52 week high of $45.04. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 1.05.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LGT Capital Partners LTD. grew its stake in shares of Brookfield Asset Management by 1.5% during the third quarter. LGT Capital Partners LTD. now owns 543,630 shares of the financial services provider’s stock worth $24,170,000 after purchasing an additional 8,140 shares during the period. Barometer Capital Management Inc. acquired a new stake in shares of Brookfield Asset Management during the third quarter worth $1,781,000. First Republic Investment Management Inc. grew its stake in shares of Brookfield Asset Management by 1,029.5% during the second quarter. First Republic Investment Management Inc. now owns 64,989 shares of the financial services provider’s stock worth $2,635,000 after purchasing an additional 59,235 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in shares of Brookfield Asset Management by 182.7% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,974,800 shares of the financial services provider’s stock worth $158,646,000 after purchasing an additional 1,922,500 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Brookfield Asset Management by 7.4% during the second quarter. Bank of America Corp DE now owns 2,048,755 shares of the financial services provider’s stock worth $83,057,000 after purchasing an additional 141,564 shares during the period. 60.40% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on the company. Scotiabank set a $53.00 price target on Brookfield Asset Management and gave the company a “buy” rating in a report on Thursday, October 18th. BMO Capital Markets assumed coverage on Brookfield Asset Management in a report on Thursday, September 20th. They set an “outperform” rating and a $54.00 price target for the company. Finally, Royal Bank of Canada raised their price target on Brookfield Asset Management from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Five investment analysts have rated the stock with a buy rating, Brookfield Asset Management has an average rating of “Buy” and an average price target of $51.70.

TRADEMARK VIOLATION WARNING: “Brookfield Asset Management (BAM) Releases Quarterly Earnings Results, Misses Estimates By $0.21 EPS” was first published by WKRB News and is owned by of WKRB News. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.wkrb13.com/2018/11/09/brookfield-asset-management-bam-releases-quarterly-earnings-results-misses-estimates-by-0-21-eps.html.

About Brookfield Asset Management

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

Featured Article: How to Track your Portfolio in Google Finance

Earnings History for Brookfield Asset Management (NYSE:BAM)

Receive News & Ratings for Brookfield Asset Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply