Analysts Set Brookfield Business Partners LP (NYSE:BBU) Target Price at $47.50

Brookfield Business Partners LP (NYSE:BBU) has been assigned an average recommendation of “Hold” from the six analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $47.50.

Several equities analysts have recently issued reports on the company. BMO Capital Markets set a $46.00 target price on Brookfield Business Partners and gave the company a “buy” rating in a report on Thursday, May 2nd. TheStreet raised Brookfield Business Partners from a “d” rating to a “c-” rating in a report on Wednesday, July 31st. Royal Bank of Canada upped their target price on Brookfield Business Partners from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Tuesday, July 2nd. Finally, Credit Suisse Group assumed coverage on Brookfield Business Partners in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $48.00 target price for the company.

BBU traded down $0.31 during midday trading on Friday, reaching $35.79. 10,011 shares of the company were exchanged, compared to its average volume of 30,611. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.28 and a current ratio of 0.42. The stock has a fifty day moving average of $38.73. The company has a market cap of $2.90 billion, a P/E ratio of 28.20 and a beta of 1.35. Brookfield Business Partners has a one year low of $29.82 and a one year high of $46.55.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.67). The company had revenue of $10.72 billion for the quarter. Brookfield Business Partners had a return on equity of 10.89% and a net margin of 2.11%.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be issued a $0.063 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a dividend yield of 0.70%.

Several hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in Brookfield Business Partners by 93.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,500 shares of the business services provider’s stock worth $30,924,000 after purchasing an additional 383,353 shares during the period. Wells Fargo & Company MN increased its position in shares of Brookfield Business Partners by 240.9% during the second quarter. Wells Fargo & Company MN now owns 16,415 shares of the business services provider’s stock valued at $629,000 after purchasing an additional 11,600 shares during the period. CIBC Asset Management Inc increased its position in shares of Brookfield Business Partners by 2.5% during the second quarter. CIBC Asset Management Inc now owns 3,061,501 shares of the business services provider’s stock valued at $119,203,000 after purchasing an additional 74,307 shares during the period. K.J. Harrison & Partners Inc increased its position in shares of Brookfield Business Partners by 4.1% during the second quarter. K.J. Harrison & Partners Inc now owns 64,000 shares of the business services provider’s stock valued at $2,492,000 after purchasing an additional 2,500 shares during the period. Finally, Montrusco Bolton Investments Inc. bought a new stake in shares of Brookfield Business Partners during the second quarter valued at approximately $3,902,000. 60.92% of the stock is owned by institutional investors.

Brookfield Business Partners Company Profile

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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