Brookfield Asset Management Ltd. has received an average target price of $64.32 from a consensus of analysts covering the stock. This recommendation follows a thorough analysis by 19 ratings firms, resulting in a classification of “Moderate Buy.” Among these, two analysts issued sell recommendations, seven suggested holding the stock, while eight advocated for a buy, along with two analysts assigning a strong buy rating.
Several recent reports have contributed to the evolving outlook on Brookfield Asset Management. On September 11, Piper Sandler adjusted its target price from $65.00 to $60.00, maintaining a “neutral” rating. Keefe, Bruyette & Woods also revised their price objective, lowering it from $62.00 to $59.00 with an “underperform” rating noted in their research released on November 10. In contrast, Weiss Ratings reaffirmed a “buy (b-)” rating for Brookfield in a report dated November 24.
Additionally, Scotiabank adjusted its target, bringing it down from $67.25 to $65.75, while maintaining a “sector outperform” rating on November 10. Meanwhile, Jefferies Financial Group raised its target from $55.00 to $62.00, assigning a “hold” rating on August 13.
Stock Performance and Financial Highlights
As of Thursday, Brookfield Asset Management’s stock opened at $53.27. The company is characterized by a debt-to-equity ratio of 0.05, and both its quick and current ratios stand at 0.97. Its fifty-day moving average is $54.03, while the two-hundred-day moving average is $56.83. Over the past year, the stock has fluctuated between a low of $41.78 and a high of $64.10. Brookfield’s market capitalization is approximately $87.24 billion, with a price-to-earnings (PE) ratio of 33.29 and a price-to-earnings-growth (PEG) ratio of 1.98. The stock has a beta of 1.39, indicating its volatility in relation to the market.
The company recently announced its quarterly earnings results for the period ending November 7, 2023. Brookfield reported earnings per share (EPS) of $0.41, surpassing analysts’ expectations of $0.39. Revenue for the quarter was $1.27 billion, though this fell short of the anticipated $1.34 billion. The firm boasted a net margin of 58.25% and a return on equity of 33.77%. Analysts predict an average EPS of 1.7 for the current fiscal year.
Dividend Announcement
In addition to its financial performance, Brookfield Asset Management declared a quarterly dividend of $0.4375, set to be paid on December 31, 2023. Investors on record as of November 28 will be eligible for this dividend, which represents an annualized dividend of $1.75 and a yield of 3.3%. Notably, the company’s dividend payout ratio currently stands at 109.38%, indicating a high commitment to returning value to shareholders.
About Brookfield Asset Management
Brookfield Asset Management Ltd. specializes in real estate investments and alternative asset management. The company’s diverse portfolio includes operations in renewable power, which encompasses hydroelectric, wind, solar, and sustainable solutions. Furthermore, its infrastructure business spans utilities, transport, midstream, and data infrastructure sectors.
As the investment landscape continues to evolve, Brookfield Asset Management remains a significant player, adapting to market changes while maintaining a focus on delivering value to its shareholders.
