Zacks: Brokerages Expect Brookfield Business Partners L.P. (NYSE:BBU) Will Announce Earnings of $1.59 Per Share

Brokerages expect Brookfield Business Partners L.P. (NYSE:BBU) to report earnings per share (EPS) of $1.59 for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Brookfield Business Partners’ earnings. The lowest EPS estimate is $1.57 and the highest is $1.60. Brookfield Business Partners reported earnings per share of ($0.12) in the same quarter last year, which indicates a positive year-over-year growth rate of 1,425%. The business is scheduled to report its next quarterly earnings results on Tuesday, November 2nd.

On average, analysts expect that Brookfield Business Partners will report full-year earnings of $9.38 per share for the current financial year. For the next fiscal year, analysts expect that the company will report earnings of $7.61 per share, with EPS estimates ranging from $7.22 to $7.99. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Brookfield Business Partners.

Brookfield Business Partners (NYSE:BBU) last announced its earnings results on Friday, August 6th. The business services provider reported ($0.63) EPS for the quarter, missing the consensus estimate of $1.66 by ($2.29). Brookfield Business Partners had a return on equity of 18.40% and a net margin of 5.10%. The company had revenue of $11.24 billion for the quarter.

BBU has been the subject of a number of research reports. Zacks Investment Research raised Brookfield Business Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 31st. Credit Suisse Group upgraded Brookfield Business Partners from a “neutral” rating to an “outperform” rating and set a $52.00 price target on the stock in a report on Friday, June 11th. National Bankshares boosted their price target on Brookfield Business Partners from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, June 29th. Finally, TheStreet cut Brookfield Business Partners from a “c-” rating to a “d” rating in a report on Wednesday, August 18th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $54.00.

BBU stock opened at $42.47 on Thursday. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.11 and a quick ratio of 0.80. The company has a fifty day moving average price of $43.24 and a two-hundred day moving average price of $43.40. Brookfield Business Partners has a one year low of $28.24 and a one year high of $49.11. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 12.24 and a beta of 1.62.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 29th. Investors of record on Tuesday, August 31st will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Monday, August 30th. Brookfield Business Partners’s payout ratio is currently -22.12%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBU. CIBC World Markets Inc. raised its position in Brookfield Business Partners by 2.9% in the 1st quarter. CIBC World Markets Inc. now owns 269,764 shares of the business services provider’s stock valued at $10,836,000 after buying an additional 7,721 shares during the last quarter. Toronto Dominion Bank raised its position in Brookfield Business Partners by 20.8% in the 1st quarter. Toronto Dominion Bank now owns 311,391 shares of the business services provider’s stock valued at $12,467,000 after buying an additional 53,589 shares during the last quarter. Horizon Kinetics Asset Management LLC purchased a new stake in Brookfield Business Partners in the 1st quarter valued at $202,000. UBS Group AG raised its position in Brookfield Business Partners by 32.6% in the 1st quarter. UBS Group AG now owns 6,175 shares of the business services provider’s stock valued at $248,000 after buying an additional 1,519 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. raised its position in Brookfield Business Partners by 58.2% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 55,938 shares of the business services provider’s stock valued at $2,258,000 after buying an additional 20,577 shares during the last quarter. 75.33% of the stock is owned by institutional investors and hedge funds.

About Brookfield Business Partners

Brookfield Business Partners LP engages in owning and operating business services and industrial operations. It operates though the following segments: Business Services, Infrastructure Services, Industrial Operations, and Corporate and Other. The Business Services segment includes services such as residential mortgage insurance, healthcare, road fuel distribution and marketing, real estate and construction, entertainment, financing, and other businesses.

Read More: What is the price-sales ratio?

Get a free copy of the Zacks research report on Brookfield Business Partners (BBU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Brookfield Business Partners (NYSE:BBU)

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