National Bank Financial Comments on Brookfield Business Partners LP’s FY2020 Earnings (NYSE:BBU)
Brookfield Business Partners LP (NYSE:BBU) – Investment analysts at National Bank Financial lifted their FY2020 earnings per share estimates for shares of Brookfield Business Partners in a research report issued on Thursday, September 24th. National Bank Financial analyst R. Merer now expects that the business services provider will earn $6.01 per share for the year, up from their previous estimate of $5.69.
Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings data on Thursday, August 6th. The business services provider reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($1.53). The firm had revenue of $7.37 billion during the quarter. Brookfield Business Partners had a negative net margin of 0.31% and a negative return on equity of 1.26%.
Shares of NYSE BBU opened at $31.00 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 2.22. The firm’s fifty day moving average is $31.18 and its 200 day moving average is $29.63. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -14.69 and a beta of 1.62. Brookfield Business Partners has a 52 week low of $18.60 and a 52 week high of $46.88.
A number of hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in Brookfield Business Partners in the first quarter valued at approximately $260,000. Principal Financial Group Inc. boosted its stake in Brookfield Business Partners by 0.8% during the first quarter. Principal Financial Group Inc. now owns 563,513 shares of the business services provider’s stock worth $14,330,000 after buying an additional 4,737 shares during the last quarter. Citigroup Inc. boosted its stake in Brookfield Business Partners by 1.1% during the first quarter. Citigroup Inc. now owns 137,450 shares of the business services provider’s stock worth $3,437,000 after buying an additional 1,444 shares during the last quarter. Partners Group Holding AG lifted its stake in shares of Brookfield Business Partners by 5.9% in the 1st quarter. Partners Group Holding AG now owns 196,548 shares of the business services provider’s stock valued at $4,959,000 after purchasing an additional 10,947 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of Brookfield Business Partners by 6.7% in the 1st quarter. Toronto Dominion Bank now owns 233,256 shares of the business services provider’s stock valued at $5,890,000 after purchasing an additional 14,625 shares during the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, August 31st will be paid a $0.0625 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.81%. Brookfield Business Partners’s payout ratio is 40.32%.
About Brookfield Business Partners
Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.
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