CIBC Cuts Brookfield Business Partners (NYSE:BBU) Price Target to $30.00

Brookfield Business Partners (NYSE:BBU) had its target price decreased by CIBC from $34.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. CIBC currently has an outperformer rating on the business services provider’s stock.

Several other equities analysts also recently weighed in on BBU. Scotiabank decreased their target price on Brookfield Business Partners from $33.00 to $29.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada decreased their target price on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, BMO Capital Markets raised their target price on Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Brookfield Business Partners currently has a consensus rating of “Buy” and a consensus target price of $31.00.

Brookfield Business Partners Stock Down 0.8 %

Brookfield Business Partners stock opened at $22.06 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.50 and a debt-to-equity ratio of 2.12. Brookfield Business Partners has a 52 week low of $16.85 and a 52 week high of $26.75. The business’s 50-day moving average price is $22.47 and its 200 day moving average price is $23.12. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -45.02 and a beta of 1.34.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.09% and a net margin of 2.20%. As a group, sell-side analysts anticipate that Brookfield Business Partners will post 5.25 earnings per share for the current year.

Brookfield Business Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.13%. Brookfield Business Partners’s dividend payout ratio (DPR) is -51.02%.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBU. Intact Investment Management Inc. increased its stake in Brookfield Business Partners by 52.6% during the fourth quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider’s stock worth $68,000 after acquiring an additional 1,000 shares during the last quarter. BBR Partners LLC acquired a new stake in Brookfield Business Partners during the fourth quarter worth $241,000. Bank of New York Mellon Corp increased its stake in Brookfield Business Partners by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock worth $415,000 after acquiring an additional 1,448 shares during the last quarter. Gold Investment Management Ltd. grew its stake in shares of Brookfield Business Partners by 3.2% in the fourth quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider’s stock valued at $767,000 after buying an additional 1,017 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Business Partners by 2.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider’s stock valued at $987,000 after buying an additional 1,146 shares during the period. Institutional investors and hedge funds own 85.04% of the company’s stock.

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.