Brookfield Business Partners (NYSE:BBU) Upgraded to C- by TheStreet

TheStreet upgraded shares of Brookfield Business Partners (NYSE:BBU) from a d rating to a c- rating in a research report sent to investors on Wednesday, TheStreetRatingsTable reports.

A number of other equities analysts also recently issued reports on BBU. BMO Capital Markets set a $46.00 price target on shares of Brookfield Business Partners and gave the stock a buy rating in a research note on Thursday, May 2nd. Royal Bank of Canada raised their target price on shares of Brookfield Business Partners from $45.00 to $47.00 and gave the company a sector perform rating in a research note on Tuesday, July 2nd. Finally, Credit Suisse Group initiated coverage on shares of Brookfield Business Partners in a research note on Wednesday, July 3rd. They set an outperform rating and a $48.00 target price for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $47.50.

Shares of Brookfield Business Partners stock traded down $0.79 during trading on Wednesday, reaching $37.10. 1,914 shares of the stock were exchanged, compared to its average volume of 53,137. Brookfield Business Partners has a 1 year low of $29.82 and a 1 year high of $46.55. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 26.94 and a beta of 1.35. The stock’s fifty day moving average is $38.87. The company has a current ratio of 1.14, a quick ratio of 0.96 and a debt-to-equity ratio of 1.42.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.67). Brookfield Business Partners had a return on equity of 17.17% and a net margin of 2.75%. The company had revenue of $10.72 billion during the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.063 per share. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, August 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.68%.

Several hedge funds and other institutional investors have recently made changes to their positions in BBU. The Manufacturers Life Insurance Company boosted its holdings in Brookfield Business Partners by 10.4% in the first quarter. The Manufacturers Life Insurance Company now owns 1,534,216 shares of the business services provider’s stock worth $60,701,000 after purchasing an additional 143,947 shares during the last quarter. AGF Investments Inc. boosted its holdings in Brookfield Business Partners by 157.2% in the first quarter. AGF Investments Inc. now owns 165,821 shares of the business services provider’s stock worth $6,570,000 after purchasing an additional 101,357 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Brookfield Business Partners in the first quarter worth approximately $3,841,000. Fosun International Ltd purchased a new stake in Brookfield Business Partners in the first quarter worth approximately $3,375,000. Finally, TD Asset Management Inc. boosted its holdings in Brookfield Business Partners by 26.6% in the second quarter. TD Asset Management Inc. now owns 214,485 shares of the business services provider’s stock worth $8,369,000 after purchasing an additional 45,100 shares during the last quarter. 61.70% of the stock is owned by institutional investors and hedge funds.

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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