Brookfield Business Partners L.P. (NYSE:BBU) Receives Average Recommendation of “Buy” from Brokerages

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have been given an average recommendation of “Buy” by the six analysts that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $31.40.

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 target price on shares of Brookfield Business Partners in a report on Monday, August 5th.

Brookfield Business Partners Stock Down 0.2 %

BBU stock opened at $23.75 on Monday. The stock has a market capitalization of $1.76 billion, a P/E ratio of 3.72 and a beta of 1.45. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 2.24. Brookfield Business Partners has a 12 month low of $12.22 and a 12 month high of $24.20. The firm has a 50-day moving average price of $20.95 and a 200-day moving average price of $20.05.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings data on Friday, August 2nd. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.95). The business had revenue of $11.95 billion during the quarter. Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. During the same period in the previous year, the business posted $0.85 EPS. As a group, equities research analysts anticipate that Brookfield Business Partners will post 4.52 EPS for the current fiscal year.

Brookfield Business Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.0625 per share. The ex-dividend date was Friday, August 30th. This represents a $0.25 annualized dividend and a yield of 1.05%. Brookfield Business Partners’s payout ratio is presently 3.92%.

Institutional Investors Weigh In On Brookfield Business Partners

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new position in Brookfield Business Partners in the 2nd quarter worth $307,000. The Manufacturers Life Insurance Company grew its position in Brookfield Business Partners by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after purchasing an additional 608 shares during the last quarter. AYAL Capital Advisors Ltd boosted its holdings in shares of Brookfield Business Partners by 97.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock valued at $848,000 after acquiring an additional 22,200 shares during the last quarter. Triasima Portfolio Management inc. purchased a new stake in shares of Brookfield Business Partners during the 1st quarter valued at about $1,405,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Brookfield Business Partners by 2.0% during the 2nd quarter. Principal Financial Group Inc. now owns 90,242 shares of the business services provider’s stock valued at $1,701,000 after acquiring an additional 1,808 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors.

About Brookfield Business Partners

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.