Brookfield Business Partners L.P. (NYSE:BBU) Receives $43.00 Consensus Price Target from Analysts

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $43.00.

Several brokerages recently weighed in on BBU. Desjardins increased their target price on Brookfield Business Partners from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce began coverage on Brookfield Business Partners in a report on Friday, February 27th. They issued a “sector outperform” rating and a $44.00 price objective on the stock. Zacks Research lowered Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Finally, BMO Capital Markets increased their target price on shares of Brookfield Business Partners from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th.

Institutional Investors Weigh In On Brookfield Business Partners

Large investors have recently made changes to their positions in the business. Alpine Global Management LLC lifted its holdings in shares of Brookfield Business Partners by 151.1% during the 4th quarter. Alpine Global Management LLC now owns 189,305 shares of the business services provider’s stock valued at $6,664,000 after acquiring an additional 113,929 shares in the last quarter. Alberta Investment Management Corp increased its holdings in Brookfield Business Partners by 1.9% in the 4th quarter. Alberta Investment Management Corp now owns 122,814 shares of the business services provider’s stock valued at $4,327,000 after purchasing an additional 2,300 shares in the last quarter. Mackenzie Financial Corp raised its position in Brookfield Business Partners by 45.3% in the fourth quarter. Mackenzie Financial Corp now owns 11,766 shares of the business services provider’s stock valued at $418,000 after purchasing an additional 3,666 shares during the period. XTX Topco Ltd purchased a new position in Brookfield Business Partners in the fourth quarter valued at about $210,000. Finally, Toronto Dominion Bank lifted its stake in shares of Brookfield Business Partners by 59,309.7% during the fourth quarter. Toronto Dominion Bank now owns 215,063 shares of the business services provider’s stock worth $7,596,000 after purchasing an additional 214,701 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Price Performance

Brookfield Business Partners stock opened at $33.45 on Friday. Brookfield Business Partners has a 1 year low of $18.63 and a 1 year high of $37.75. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.19 and a current ratio of 0.27. The firm has a 50 day moving average price of $35.10 and a 200 day moving average price of $33.44. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -128.65 and a beta of 1.30.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($1.86). Brookfield Business Partners had a return on equity of 2.67% and a net margin of 1.41%.The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Sell-side analysts predict that Brookfield Business Partners will post 5.25 earnings per share for the current year.

Brookfield Business Partners Company Profile

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.