Brookfield Business Partners L.P. (NYSE:BBU) Receives $31.40 Consensus Target Price from Analysts

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have been given an average recommendation of “Buy” by the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $31.40.

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price target on shares of Brookfield Business Partners in a report on Monday, August 5th.

Institutional Investors Weigh In On Brookfield Business Partners

A number of large investors have recently modified their holdings of BBU. Principal Financial Group Inc. grew its holdings in shares of Brookfield Business Partners by 35.7% during the first quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock worth $1,954,000 after buying an additional 23,258 shares in the last quarter. K2 Principal Fund L.P. grew its holdings in shares of Brookfield Business Partners by 58.3% during the first quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider’s stock worth $3,455,000 after buying an additional 57,553 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Brookfield Business Partners during the second quarter worth $307,000. Bank of Montreal Can grew its holdings in shares of Brookfield Business Partners by 3.1% during the second quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock worth $15,036,000 after buying an additional 22,886 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Brookfield Business Partners by 12.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider’s stock worth $12,910,000 after buying an additional 77,017 shares in the last quarter. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Stock Performance

BBU opened at $22.46 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.00 and a quick ratio of 0.74. The firm has a fifty day moving average price of $22.13 and a 200 day moving average price of $20.27. Brookfield Business Partners has a 1 year low of $12.22 and a 1 year high of $24.96. The stock has a market cap of $1.67 billion, a P/E ratio of 3.45 and a beta of 1.45.

Brookfield Business Partners (NYSE:BBU) last posted its earnings results on Friday, August 2nd. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.95). The firm had revenue of $11.95 billion during the quarter. Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. During the same period in the prior year, the company posted $0.85 EPS. Equities research analysts anticipate that Brookfield Business Partners will post 4.52 earnings per share for the current year.

About Brookfield Business Partners

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure 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.