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

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $40.6667.

A number of equities research analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of Brookfield Business Partners from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Zacks Research lowered Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 2nd. 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 report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a research report on Wednesday, January 21st.

Hedge Funds Weigh In On Brookfield Business Partners

Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in shares of Brookfield Business Partners in the 2nd quarter valued at $3,373,000. Northwest & Ethical Investments L.P. acquired a new stake in Brookfield Business Partners during the 2nd quarter worth $391,000. Rathbones Group PLC purchased a new stake in Brookfield Business Partners in the second quarter valued at $265,000. TD Waterhouse Canada Inc. boosted its stake in Brookfield Business Partners by 1.4% in the second quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider’s stock valued at $28,344,000 after acquiring an additional 14,981 shares in the last quarter. Finally, Credit Industriel ET Commercial boosted its stake in Brookfield Business Partners by 29.4% in the fourth quarter. Credit Industriel ET Commercial now owns 194,668 shares of the business services provider’s stock valued at $6,852,000 after acquiring an additional 44,263 shares in the last quarter. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Business Partners Price Performance

BBU stock opened at $33.93 on Wednesday. The business’s 50-day moving average is $35.55 and its two-hundred day moving average is $32.26. 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 $2.97 billion, a P/E ratio of -130.51 and a beta of 1.31. 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 released its earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($1.86). The firm had revenue of $7 billion for 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%. Analysts anticipate that Brookfield Business Partners will post 5.25 earnings per share for the current fiscal 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.