Royal Bank of Canada Issues Pessimistic Forecast for Brookfield Business Partners (NYSE:BBU) Stock Price

Brookfield Business Partners (NYSE:BBU - Free Report) had its price objective cut by Royal Bank of Canada from $32.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an outperform rating on the business services provider's stock.

A number of other analysts also recently weighed in on the company. BMO Capital Markets increased their price objective on Brookfield Business Partners from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Friday, January 10th. Scotiabank boosted their target price on shares of Brookfield Business Partners from $32.00 to $33.00 and gave the company a "sector outperform" rating in a report on Monday. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $32.33.

Brookfield Business Partners Stock Performance

Shares of NYSE BBU traded up $0.24 during trading hours on Monday, reaching $22.60. 9,508 shares of the stock were exchanged, compared to its average volume of 18,849. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 1.17. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -45.69 and a beta of 1.50. The stock's fifty day simple moving average is $23.02 and its 200 day simple moving average is $22.38. Brookfield Business Partners has a 52 week low of $16.85 and a 52 week high of $26.75.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last released its earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share for the quarter, topping the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.00% and a net margin of 2.20%. Sell-side analysts predict that Brookfield Business Partners will post 5.26 EPS for the current year.

Brookfield Business Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Business Partners's payout ratio is currently -51.02%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BBU. Intact Investment Management Inc. purchased a new position in Brookfield Business Partners during the third quarter valued at $45,000. Bank of New York Mellon Corp raised its position in shares of Brookfield Business Partners by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider's stock worth $415,000 after purchasing an additional 1,448 shares during the last quarter. Gold Investment Management Ltd. boosted its stake in Brookfield Business Partners by 7.4% in the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider's stock worth $739,000 after purchasing an additional 2,169 shares in the last quarter. Tandem Capital Management Corp ADV grew its position in Brookfield Business Partners by 24.5% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider's stock valued at $890,000 after purchasing an additional 7,939 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Brookfield Business Partners by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider's stock valued at $770,000 after purchasing an additional 608 shares in the last quarter. Institutional investors own 85.04% of the company's stock.

Brookfield Business Partners Company Profile

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.