Brookfield Business Partners (BBU) Releases Quarterly Earnings Results

Brookfield Business Partners (NYSE:BBU) released its quarterly earnings data on Friday. The business services provider reported $1.04 earnings per share for the quarter, Morningstar.com reports. Brookfield Business Partners had a return on equity of 12.62% and a net margin of 2.27%. The company had revenue of $10.21 billion for the quarter.

NYSE:BBU traded up $1.00 during trading hours on Friday, hitting $33.75. 50,887 shares of the company were exchanged, compared to its average volume of 15,760. The company has a quick ratio of 0.95, a current ratio of 1.15 and a debt-to-equity ratio of 1.50. Brookfield Business Partners has a one year low of $29.82 and a one year high of $46.55.

A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its position in Brookfield Business Partners by 5.7% during the 3rd quarter. Bank of Montreal Can now owns 1,278,923 shares of the business services provider’s stock worth $58,549,000 after purchasing an additional 68,772 shares during the last quarter. Acadian Asset Management LLC raised its position in Brookfield Business Partners by 9.9% during the 3rd quarter. Acadian Asset Management LLC now owns 697,728 shares of the business services provider’s stock worth $31,962,000 after purchasing an additional 62,600 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Brookfield Business Partners during the 3rd quarter worth $29,836,000. Hillsdale Investment Management Inc. raised its position in Brookfield Business Partners by 55.4% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 500,400 shares of the business services provider’s stock worth $22,944,000 after purchasing an additional 178,400 shares during the last quarter. Finally, CIBC World Markets Inc. raised its position in Brookfield Business Partners by 8.9% during the 3rd quarter. CIBC World Markets Inc. now owns 277,604 shares of the business services provider’s stock worth $12,709,000 after purchasing an additional 22,605 shares during the last quarter. 75.20% of the stock is owned by institutional investors and hedge funds.

BBU has been the topic of several recent research reports. Royal Bank of Canada downgraded Brookfield Business Partners from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $46.00 to $42.00 in a report on Tuesday, January 15th. BMO Capital Markets initiated coverage on Brookfield Business Partners in a report on Tuesday, November 20th. They set an “outperform” rating and a $47.00 price objective on the stock. Credit Suisse Group initiated coverage on Brookfield Business Partners in a report on Friday, November 16th. They set a “buy” rating and a $54.00 price objective on the stock. Finally, ValuEngine downgraded Brookfield Business Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Brookfield Business Partners has a consensus rating of “Buy” and a consensus price target of $47.60.

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Brookfield Business Partners Company Profile

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Earnings History for Brookfield Business Partners (NYSE:BBU)

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