Brookfield Business Partners (BBU) Price Target Cut to $46.00 by Analysts at Royal Bank of Canada

Brookfield Business Partners (NYSE:BBU) had its price target decreased by Royal Bank of Canada from $47.00 to $46.00 in a report published on Tuesday. Royal Bank of Canada currently has a buy rating on the business services provider’s stock.

Several other brokerages have also issued reports on BBU. Scotiabank initiated coverage on shares of Brookfield Business Partners in a research note on Wednesday, September 19th. They set a hold rating and a $49.00 price target for the company. Credit Suisse Group set a $54.00 price target on shares of Brookfield Business Partners and gave the stock a buy rating in a research note on Thursday, August 23rd. Finally, ValuEngine lowered shares of Brookfield Business Partners from a buy rating to a hold rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Brookfield Business Partners currently has a consensus rating of Buy and an average target price of $48.75.

Shares of BBU stock traded down $0.03 during trading hours on Tuesday, hitting $37.48. 12,133 shares of the company were exchanged, compared to its average volume of 15,341. The company has a quick ratio of 1.08, a current ratio of 1.27 and a debt-to-equity ratio of 1.68. Brookfield Business Partners has a 52-week low of $29.54 and a 52-week high of $46.55. The firm has a market cap of $2.58 billion, a P/E ratio of 324.58 and a beta of 1.91.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, November 30th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, November 29th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Karpas Strategies LLC bought a new position in Brookfield Business Partners in the 3rd quarter worth approximately $233,000. Acadian Asset Management LLC boosted its holdings in Brookfield Business Partners by 9.9% in the 3rd quarter. Acadian Asset Management LLC now owns 697,728 shares of the business services provider’s stock worth $31,962,000 after buying an additional 62,600 shares during the period. Intact Investment Management Inc. boosted its holdings in Brookfield Business Partners by 50.3% in the 3rd quarter. Intact Investment Management Inc. now owns 51,100 shares of the business services provider’s stock worth $3,019,000 after buying an additional 17,100 shares during the period. Signition LP bought a new position in Brookfield Business Partners in the 3rd quarter worth approximately $279,000. Finally, Jane Street Group LLC bought a new position in Brookfield Business Partners in the 1st quarter worth approximately $309,000. 75.66% of the stock is owned by institutional investors.

About Brookfield Business Partners

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