Desjardins Analysts Increase Earnings Estimates for BBU

Brookfield Business Partners L.P. (NYSE:BBU - Free Report) - Analysts at Desjardins boosted their FY2024 earnings per share estimates for Brookfield Business Partners in a research note issued to investors on Sunday, November 10th. Desjardins analyst G. Ho now forecasts that the business services provider will post earnings per share of $5.38 for the year, up from their prior estimate of $4.23. The consensus estimate for Brookfield Business Partners' current full-year earnings is $5.43 per share.

Separately, Royal Bank of Canada restated an "outperform" rating and issued a $32.00 price objective on shares of Brookfield Business Partners in a research note on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $31.40.

Brookfield Business Partners Stock Performance

Shares of NYSE:BBU traded up $0.30 during trading on Wednesday, hitting $24.75. The stock had a trading volume of 5,227 shares, compared to its average volume of 14,112. Brookfield Business Partners has a 12-month low of $14.71 and a 12-month high of $25.64. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 3.02 and a beta of 1.45. The company has a quick ratio of 0.74, a current ratio of 0.24 and a debt-to-equity ratio of 2.24. The stock has a 50-day simple moving average of $22.66 and a two-hundred day simple moving average of $20.54.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.39. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. The company had revenue of $9.23 billion during the quarter. During the same quarter last year, the business posted $1.33 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. PCJ Investment Counsel Ltd. raised its position in Brookfield Business Partners by 14.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider's stock valued at $35,528,000 after acquiring an additional 188,743 shares in the last quarter. Bank of Montreal Can raised its position in Brookfield Business Partners by 8.7% during the third quarter. Bank of Montreal Can now owns 834,512 shares of the business services provider's stock valued at $20,193,000 after acquiring an additional 66,786 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Brookfield Business Partners by 12.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider's stock valued at $12,910,000 after acquiring an additional 77,017 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in Brookfield Business Partners by 14.7% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider's stock valued at $15,047,000 after purchasing an additional 82,372 shares during the period. Finally, K2 Principal Fund L.P. grew its holdings in Brookfield Business Partners by 58.3% in the first quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider's stock valued at $3,455,000 after purchasing an additional 57,553 shares during the period. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Business Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.063 per share. This is a boost from Brookfield Business Partners's previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, November 29th. Brookfield Business Partners's dividend payout ratio (DPR) is currently 3.09%.

About Brookfield Business Partners

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.