Brookfield Business Partners L.P. (NYSE:BBU) Receives Average Rating of “Hold” from Brokerages

Brookfield Business Partners L.P. (NYSE:BBU) has received a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $40.6667.

A number of equities research analysts have weighed in on the company. BMO Capital Markets upped their target price on Brookfield Business Partners from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a report on Monday, February 2nd. Royal Bank Of Canada lifted their target price on Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. National Bankshares boosted their price target on shares of Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Finally, Zacks Research lowered shares of Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. PCJ Investment Counsel Ltd. lifted its position in shares of Brookfield Business Partners by 5.3% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,338,079 shares of the business services provider’s stock valued at $43,786,000 after acquiring an additional 67,295 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Brookfield Business Partners by 1.6% during the third quarter. TD Waterhouse Canada Inc. now owns 1,119,781 shares of the business services provider’s stock worth $35,513,000 after purchasing an additional 17,508 shares during the period. Picton Mahoney Asset Management lifted its holdings in shares of Brookfield Business Partners by 74.4% during the third quarter. Picton Mahoney Asset Management now owns 696,679 shares of the business services provider’s stock valued at $22,849,000 after purchasing an additional 297,180 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Brookfield Business Partners by 14.4% in the 3rd quarter. Bank of Montreal Can now owns 553,148 shares of the business services provider’s stock valued at $18,140,000 after purchasing an additional 69,657 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Brookfield Business Partners by 796.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 322,899 shares of the business services provider’s stock worth $10,530,000 after purchasing an additional 286,872 shares in the last quarter. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Stock Up 1.3%

Brookfield Business Partners stock opened at $37.31 on Wednesday. Brookfield Business Partners has a 52 week low of $18.63 and a 52 week high of $37.66. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -143.50 and a beta of 1.31. The company’s 50-day moving average price is $35.59 and its two-hundred day moving average price is $32.15. The company has a current ratio of 0.27, a quick ratio of 0.19 and a debt-to-equity ratio of 2.84.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, January 30th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($1.86). Brookfield Business Partners had a net margin of 1.41% and a return on equity of 2.67%. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $3.46 billion. On average, analysts expect that Brookfield Business Partners will post 5.25 EPS for the current fiscal 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.