Brookfield Business Partners L.P. (NYSE:BBU) to Issue Quarterly Dividend of $0.06

Brookfield Business Partners L.P. (NYSE:BBU) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.0625 per share by the business services provider on Friday, June 28th. This represents a $0.25 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, May 31st.

Brookfield Business Partners has a dividend payout ratio of -4.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Brookfield Business Partners to earn $4.55 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 5.5%.

Brookfield Business Partners Stock Performance

Shares of Brookfield Business Partners stock traded up $0.11 on Monday, hitting $19.00. The stock had a trading volume of 20,577 shares, compared to its average volume of 15,355. Brookfield Business Partners has a 52-week low of $12.22 and a 52-week high of $23.75. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 2.22. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 2.98 and a beta of 1.44. The company’s 50 day moving average price is $20.66 and its 200 day moving average price is $19.29.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, February 2nd. The business services provider reported $6.57 EPS for the quarter, beating the consensus estimate of $0.90 by $5.67. The firm had revenue of $13.41 billion during the quarter. Brookfield Business Partners had a return on equity of 21.72% and a net margin of 7.08%. During the same period in the prior year, the company earned $1.49 earnings per share. On average, research analysts anticipate that Brookfield Business Partners will post 3.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BBU. Scotiabank upped their target price on Brookfield Business Partners from $26.50 to $28.00 and gave the company a “sector outperform” rating in a research note on Monday, February 5th. Royal Bank of Canada reduced their target price on Brookfield Business Partners from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Monday. TheStreet lowered Brookfield Business Partners from a “c” rating to a “d+” rating in a research note on Wednesday, March 13th. BMO Capital Markets upped their target price on Brookfield Business Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday. Finally, National Bankshares increased their price target on Brookfield Business Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $30.33.

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.