Brookfield Business Partners LP (NYSE:BBU) Receives Consensus Recommendation of “Hold” from Analysts

Brookfield Business Partners LP (NYSE:BBU) has been given a consensus recommendation of “Hold” by the six ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $47.50.

BBU has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Brookfield Business Partners from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 2nd. Credit Suisse Group initiated coverage on shares of Brookfield Business Partners in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $48.00 price objective on the stock. BMO Capital Markets set a $46.00 price objective on shares of Brookfield Business Partners and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, TheStreet raised shares of Brookfield Business Partners from a “d” rating to a “c-” rating in a research report on Wednesday, July 31st.

Several hedge funds have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp lifted its position in Brookfield Business Partners by 76.1% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 11,747,000 shares of the business services provider’s stock valued at $456,136,000 after acquiring an additional 5,077,000 shares in the last quarter. CIBC Asset Management Inc lifted its position in Brookfield Business Partners by 2.5% in the 2nd quarter. CIBC Asset Management Inc now owns 3,061,501 shares of the business services provider’s stock valued at $119,203,000 after acquiring an additional 74,307 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Brookfield Business Partners by 10.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,534,216 shares of the business services provider’s stock valued at $60,701,000 after acquiring an additional 143,947 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Brookfield Business Partners by 93.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 792,500 shares of the business services provider’s stock valued at $30,924,000 after acquiring an additional 383,353 shares in the last quarter. Finally, TD Asset Management Inc. lifted its position in Brookfield Business Partners by 26.6% in the 2nd quarter. TD Asset Management Inc. now owns 214,485 shares of the business services provider’s stock valued at $8,369,000 after acquiring an additional 45,100 shares in the last quarter. 60.92% of the stock is currently owned by institutional investors.

NYSE BBU traded down $0.16 on Friday, reaching $35.98. The company had a trading volume of 16,200 shares, compared to its average volume of 30,527. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 27.35 and a beta of 1.35. Brookfield Business Partners has a fifty-two week low of $29.82 and a fifty-two week high of $46.55. The business has a 50 day moving average price of $38.50. The company has a current ratio of 0.42, a quick ratio of 0.28 and a debt-to-equity ratio of 1.42.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.67). The business 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a dividend of $0.063 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, August 29th. This is a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06.

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.

Recommended Story: Growth and Income Funds

Receive News & Ratings for Brookfield Business Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Business Partners and related companies with MarketBeat.com's FREE daily email newsletter.