Brookfield Business Partners L.P. (NYSE:BBU) Receives $40.67 Consensus Price Target from Analysts

Brookfield Business Partners L.P. (NYSE:BBU) has been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $40.6667.

BBU has been the topic of several research reports. Desjardins upped their target price on Brookfield Business Partners from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. BMO Capital Markets boosted their price target on Brookfield Business Partners from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Scotiabank reaffirmed an “outperform” rating on shares of Brookfield Business Partners in a report on Monday, February 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Business Partners in a research report on Wednesday, January 21st. Finally, National Bank Financial lifted their target price on Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BBU. Bank of America Corp DE raised its position in shares of Brookfield Business Partners by 30,100.0% in the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock valued at $31,000 after buying an additional 1,204 shares in the last quarter. Intact Investment Management Inc. bought a new position in Brookfield Business Partners during the 4th quarter worth $71,000. Guardian Partners Inc. acquired a new position in Brookfield Business Partners in the 3rd quarter valued at $221,000. Russell Investments Group Ltd. raised its holdings in Brookfield Business Partners by 47.8% in the 4th quarter. Russell Investments Group Ltd. now owns 6,463 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 2,089 shares in the last quarter. Finally, Rathbones Group PLC bought a new stake in shares of Brookfield Business Partners during the 2nd quarter valued at $265,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Price Performance

Shares of BBU opened at $35.57 on Wednesday. The company’s 50-day moving average is $35.52 and its 200-day moving average is $32.51. 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 capitalization of $3.12 billion, a PE ratio of -136.81 and a beta of 1.31. Brookfield Business Partners has a fifty-two week low of $18.63 and a fifty-two week high of $37.75.

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

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.