Brookfield Business Partners L.P. (NYSE:BBU) Receives $43.00 Consensus Target Price from Analysts

Brookfield Business Partners L.P. (NYSE:BBU) has been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $43.00.

BBU has been the topic of a number of research analyst reports. Zacks Research cut shares of Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday, January 21st. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday, February 2nd. Desjardins raised their target price on Brookfield Business Partners from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. 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.

Brookfield Business Partners Stock Down 6.0%

Shares of NYSE BBU opened at $30.63 on Friday. The company’s 50 day moving average price is $34.96 and its 200-day moving average price is $33.41. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.19 and a current ratio of 0.27. Brookfield Business Partners has a 52-week low of $18.63 and a 52-week high of $37.75. The company has a market capitalization of $2.68 billion, a P/E ratio of -117.79 and a beta of 1.30.

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

Institutional Trading of Brookfield Business Partners

Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc boosted its stake in Brookfield Business Partners by 0.6% during the third quarter. Legal & General Group Plc now owns 130,620 shares of the business services provider’s stock worth $4,285,000 after acquiring an additional 726 shares in the last quarter. Gold Investment Management Ltd. increased its stake in Brookfield Business Partners by 1.8% in the fourth quarter. Gold Investment Management Ltd. now owns 45,074 shares of the business services provider’s stock valued at $1,595,000 after purchasing an additional 804 shares in the last quarter. Cardinal Point Capital Management ULC increased its stake in Brookfield Business Partners by 0.4% in the fourth quarter. Cardinal Point Capital Management ULC now owns 236,389 shares of the business services provider’s stock valued at $8,377,000 after purchasing an additional 825 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Brookfield Business Partners by 30,100.0% during 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 purchasing an additional 1,204 shares during the period. Finally, Intact Investment Management Inc. bought a new position in shares of Brookfield Business Partners during the 4th quarter worth about $71,000. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Company Profile

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.