Brookfield Business Partners L.P. (NYSE:BBU) Receives $43.00 Average PT from Brokerages

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.00.

BBU has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce initiated coverage on Brookfield Business Partners in a research report on Friday, February 27th. They issued a “sector outperform” rating and a $44.00 price target for the company. National Bank Financial lifted their price target on Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Royal Bank Of Canada lifted their price target on Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Scotiabank reaffirmed an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday, February 2nd. Finally, Desjardins lifted their price target on Brookfield Business Partners from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd.

Institutional Investors Weigh In On Brookfield Business Partners

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Brookfield Business Partners by 796.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 322,899 shares of the business services provider’s stock worth $10,530,000 after buying an additional 286,872 shares in the last quarter. Legal & General Group Plc bought a new stake in Brookfield Business Partners in the 2nd quarter worth about $3,373,000. Picton Mahoney Asset Management increased its holdings in Brookfield Business Partners by 74.4% in the 3rd quarter. Picton Mahoney Asset Management now owns 696,679 shares of the business services provider’s stock worth $22,849,000 after buying an additional 297,180 shares in the last quarter. Alberta Investment Management Corp bought a new stake in Brookfield Business Partners in the 3rd quarter worth about $3,392,000. Finally, Credit Industriel ET Commercial bought a new stake in Brookfield Business Partners in the 3rd quarter worth about $4,905,000. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Partners Price Performance

BBU opened at $31.46 on Thursday. The stock has a 50-day moving average price of $33.37 and a 200-day moving average price of $33.96. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.27 and a quick ratio of 0.19. The firm has a market cap of $2.76 billion, a PE ratio of -121.00 and a beta of 1.30. Brookfield Business Partners has a 1 year low of $18.63 and a 1 year high of $37.75.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($1.86). The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Brookfield Business Partners had a return on equity of 2.67% and a net margin of 1.41%. Sell-side analysts predict that Brookfield Business Partners will post 5.25 earnings per share for the current fiscal year.

Brookfield Business Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, March 23rd. Brookfield Business Partners’s dividend payout ratio (DPR) is presently -96.15%.

About Brookfield Business Partners

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.