Royal Bank of Canada Cuts Brookfield Business Partners (NYSE:BBU) Price Target to $30.00

Brookfield Business Partners (NYSE:BBU) had its target price trimmed by Royal Bank of Canada from $32.00 to $30.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Scotiabank upped their price objective on shares of Brookfield Business Partners from $32.00 to $33.00 and gave the stock a “sector outperform” rating in a research report on Monday. BMO Capital Markets upped their price target on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Brookfield Business Partners presently has a consensus rating of “Buy” and a consensus price target of $32.33.

Brookfield Business Partners Trading Up 3.0 %

Shares of BBU opened at $22.47 on Monday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 1.17. Brookfield Business Partners has a 52-week low of $16.85 and a 52-week high of $26.75. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -45.86 and a beta of 1.50. The business’s fifty day moving average is $23.10 and its 200-day moving average is $22.38.

Brookfield Business Partners (NYSE:BBU) last released its earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.00% and a net margin of 2.20%. Equities analysts anticipate that Brookfield Business Partners will post 5.26 EPS for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.0625 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.25 dividend on an annualized basis and a yield of 1.11%. Brookfield Business Partners’s dividend payout ratio (DPR) is presently -51.02%.

Institutional Investors Weigh In On Brookfield Business Partners

Institutional investors have recently added to or reduced their stakes in the business. Intact Investment Management Inc. bought a new position in shares of Brookfield Business Partners during the third quarter valued at $45,000. Bank of New York Mellon Corp increased its holdings in Brookfield Business Partners by 8.9% in the fourth quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock valued at $415,000 after purchasing an additional 1,448 shares during the period. Gold Investment Management Ltd. raised its position in Brookfield Business Partners by 7.4% during the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock worth $739,000 after purchasing an additional 2,169 shares during the last quarter. Tandem Capital Management Corp ADV lifted its holdings in Brookfield Business Partners by 24.5% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock worth $890,000 after buying an additional 7,939 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Brookfield Business Partners by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after buying an additional 608 shares during the last quarter. 85.04% of the stock is owned by institutional investors.

Brookfield Business Partners Company Profile

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.