Brookfield Business Partners (NYSE:BBU) Research Coverage Started at CIBC

CIBC assumed coverage on shares of Brookfield Business Partners (NYSE:BBU) in a report issued on Thursday, The Fly reports. The brokerage set an “outperform” rating on the business services provider’s stock.

Other research analysts also recently issued reports about the company. Royal Bank of Canada raised their price objective on Brookfield Business Partners from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, September 25th. Zacks Investment Research upgraded Brookfield Business Partners from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Tuesday, August 11th. Credit Suisse Group raised their price objective on Brookfield Business Partners from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Scotiabank raised their price objective on Brookfield Business Partners from $39.00 to $40.00 and gave the stock a “sector outperform” rating in a report on Friday, September 25th. Finally, Desjardins started coverage on Brookfield Business Partners in a report on Wednesday, August 19th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.14.

Shares of NYSE BBU opened at $29.95 on Thursday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.86 and a current ratio of 1.22. The business’s 50 day moving average price is $31.17 and its 200-day moving average price is $30.62. Brookfield Business Partners has a fifty-two week low of $18.60 and a fifty-two week high of $46.88. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -14.19 and a beta of 1.61.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported ($0.73) earnings per share for the quarter, missing the consensus estimate of $0.80 by ($1.53). Brookfield Business Partners had a negative return on equity of 1.26% and a negative net margin of 0.31%. The business had revenue of $7.37 billion during the quarter. Sell-side analysts predict that Brookfield Business Partners will post 5.61 earnings per share for the current year.

In other news, Director Gp Ltd Bcp sold 140,000 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $7.11, for a total value of $995,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 974,913 shares of company stock valued at $7,069,812 in the last three months.

Several institutional investors have recently bought and sold shares of BBU. CIBC Asset Management Inc boosted its position in shares of Brookfield Business Partners by 2.3% in the 2nd quarter. CIBC Asset Management Inc now owns 2,969,329 shares of the business services provider’s stock worth $91,118,000 after purchasing an additional 65,992 shares in the last quarter. TD Asset Management Inc. raised its stake in Brookfield Business Partners by 16.3% in the 2nd quarter. TD Asset Management Inc. now owns 282,402 shares of the business services provider’s stock worth $8,665,000 after acquiring an additional 39,597 shares during the last quarter. Bank of Montreal Can lifted its position in Brookfield Business Partners by 3.4% during the 2nd quarter. Bank of Montreal Can now owns 1,047,601 shares of the business services provider’s stock worth $31,596,000 after acquiring an additional 34,893 shares during the period. California Public Employees Retirement System grew its stake in Brookfield Business Partners by 35.3% during the 2nd quarter. California Public Employees Retirement System now owns 125,283 shares of the business services provider’s stock valued at $3,865,000 after purchasing an additional 32,699 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Brookfield Business Partners in the second quarter valued at about $310,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Brookfield Business Partners (NYSE:BBU)

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