Brookfield Business Partners (NYSE:BBU) Stock Price Expected to Rise, Scotiabank Analyst Says

Brookfield Business Partners (NYSE:BBU - Free Report) had its price target hoisted by Scotiabank from $32.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a sector outperform rating on the business services provider's stock.

Separately, BMO Capital Markets increased their target price on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $32.60.

Brookfield Business Partners Price Performance

Brookfield Business Partners stock traded up $0.65 during trading hours on Monday, reaching $22.47. 6,677 shares of the stock were exchanged, compared to its average volume of 19,256. The stock has a 50 day moving average of $23.10 and a two-hundred day moving average of $22.38. The company has a market cap of $1.67 billion, a P/E ratio of -45.86 and a beta of 1.50. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 2.12. Brookfield Business Partners has a twelve month low of $16.85 and a twelve month high of $26.75.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.00%. Equities analysts expect that Brookfield Business Partners will post 5.26 EPS for the current fiscal year.

Brookfield Business Partners Cuts Dividend

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

Hedge Funds Weigh In On Brookfield Business Partners

A number of hedge funds have recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Brookfield Business Partners by 13.6% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider's stock worth $18,145,000 after buying an additional 92,413 shares during the period. Principal Financial Group Inc. boosted its holdings in Brookfield Business Partners by 29.9% in the third quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider's stock valued at $2,731,000 after acquiring an additional 26,947 shares during the last quarter. Caldwell Investment Management Ltd. acquired a new stake in Brookfield Business Partners during the 4th quarter valued at approximately $1,731,000. PCJ Investment Counsel Ltd. raised its holdings in Brookfield Business Partners by 14.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider's stock worth $35,528,000 after purchasing an additional 188,743 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Brookfield Business Partners by 12,276.3% in the 3rd quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider's stock worth $6,076,000 after purchasing an additional 258,662 shares during the period. Institutional investors and hedge funds 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.