BBU FY2024 EPS Forecast Increased by National Bank Financial

Brookfield Business Partners L.P. (NYSE:BBU - Free Report) - Research analysts at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for shares of Brookfield Business Partners in a report issued on Tuesday, October 29th. National Bank Financial analyst J. Gloyn now expects that the business services provider will earn $4.81 per share for the year, up from their previous forecast of $4.80. The consensus estimate for Brookfield Business Partners' current full-year earnings is $4.52 per share. National Bank Financial also issued estimates for Brookfield Business Partners' FY2025 earnings at $4.63 EPS.

Separately, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $32.00 target price on shares of Brookfield Business Partners in a report on Monday, August 5th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Business Partners currently has a consensus rating of "Buy" and an average target price of $31.40.

Brookfield Business Partners Price Performance

NYSE:BBU traded up $0.46 during trading hours on Thursday, hitting $22.46. 8,533 shares of the stock traded hands, compared to its average volume of 14,091. The stock has a 50 day moving average price of $22.13 and a 200 day moving average price of $20.27. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 2.24. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 3.52 and a beta of 1.45. Brookfield Business Partners has a 1 year low of $12.22 and a 1 year high of $24.96.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.86 by ($0.95). The company had revenue of $11.95 billion during the quarter. Brookfield Business Partners had a return on equity of 21.76% and a net margin of 7.34%. During the same quarter in the prior year, the business earned $0.85 earnings per share.

Brookfield Business Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.25 dividend on an annualized basis and a yield of 1.11%. Brookfield Business Partners's dividend payout ratio is currently 3.92%.

Institutional Investors Weigh In On Brookfield Business Partners

Several large investors have recently made changes to their positions in BBU. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Brookfield Business Partners by 12.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider's stock worth $12,910,000 after purchasing an additional 77,017 shares during the last quarter. K2 Principal Fund L.P. increased its holdings in shares of Brookfield Business Partners by 58.3% in the 1st quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider's stock worth $3,455,000 after buying an additional 57,553 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Brookfield Business Partners by 29.9% during the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider's stock valued at $2,731,000 after buying an additional 26,947 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Brookfield Business Partners by 3.1% in the 2nd quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider's stock valued at $15,036,000 after acquiring an additional 22,886 shares during the last quarter. Finally, AYAL Capital Advisors Ltd grew its position in Brookfield Business Partners by 97.4% in the second quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider's stock worth $848,000 after acquiring an additional 22,200 shares in the last quarter. 85.04% of the stock is owned by institutional investors.

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.