Brookfield Business Partners (NYSE:BBU) Rating Increased to Sector Outperform at Scotiabank

Brookfield Business Partners (NYSE:BBU) was upgraded by Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research report issued to clients and investors on Thursday, The Fly reports.

A number of other analysts have also commented on BBU. Zacks Investment Research upgraded Brookfield Business Partners from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Tuesday, December 17th. ValuEngine upgraded Brookfield Business Partners from a “sell” rating to a “hold” rating in a report on Tuesday. CIBC upgraded Brookfield Business Partners from a “neutral” rating to a “sector outperform” rating and set a $51.00 price objective for the company in a report on Thursday, February 6th. Finally, Royal Bank of Canada boosted their price objective on Brookfield Business Partners from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $48.33.

BBU stock opened at $25.76 on Thursday. The business has a fifty day moving average price of $36.91 and a 200 day moving average price of $39.55. Brookfield Business Partners has a fifty-two week low of $18.60 and a fifty-two week high of $46.88. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 33.89 and a beta of 1.38. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.16 and a quick ratio of 0.84.

Brookfield Business Partners (NYSE:BBU) last posted its earnings results on Thursday, February 6th. The business services provider reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.97 by ($2.67). The business had revenue of $11.32 billion for the quarter. Brookfield Business Partners had a return on equity of 3.10% and a net margin of 0.65%. On average, equities analysts expect that Brookfield Business Partners will post 6.84 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Brookfield Business Partners by 5.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,026 shares of the business services provider’s stock worth $207,000 after buying an additional 259 shares in the last quarter. Guardian Capital Advisors LP increased its holdings in shares of Brookfield Business Partners by 3.3% during the fourth quarter. Guardian Capital Advisors LP now owns 15,947 shares of the business services provider’s stock worth $798,000 after buying an additional 514 shares in the last quarter. Barclays PLC acquired a new position in shares of Brookfield Business Partners during the third quarter worth $59,000. Pacifica Partners Inc. acquired a new position in shares of Brookfield Business Partners during the fourth quarter worth $78,000. Finally, Colony Group LLC increased its holdings in shares of Brookfield Business Partners by 13.1% during the third quarter. Colony Group LLC now owns 17,244 shares of the business services provider’s stock worth $678,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 73.12% of the company’s stock.

Brookfield Business Partners Company Profile

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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