BMO Capital Markets Forecasts Strong Price Appreciation for Brookfield Business Partners (NYSE:BBU) Stock

Brookfield Business Partners (NYSE:BBU) had its price target boosted by research analysts at BMO Capital Markets from $32.00 to $34.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target points to a potential upside of 53.85% from the company’s current price.

Brookfield Business Partners Stock Performance

Brookfield Business Partners stock opened at $22.10 on Friday. Brookfield Business Partners has a fifty-two week low of $16.85 and a fifty-two week high of $26.75. 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 stock has a market cap of $1.64 billion, a P/E ratio of 2.73 and a beta of 1.50. The firm’s fifty day moving average price is $24.03 and its 200-day moving average price is $22.07.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.00 by $0.39. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. The firm had revenue of $9.23 billion for the quarter. During the same period last year, the business posted $1.33 earnings per share. On average, equities research analysts expect that Brookfield Business Partners will post 5.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Business Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brookfield Corp ON raised its stake in Brookfield Business Partners by 1.7% during the third quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock valued at $596,538,000 after buying an additional 428,511 shares during the last quarter. PCJ Investment Counsel Ltd. boosted its holdings in Brookfield Business Partners by 14.2% in the third 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. Bank of Montreal Can lifted its holdings in shares of Brookfield Business Partners by 8.7% during the 3rd quarter. Bank of Montreal Can now owns 834,512 shares of the business services provider’s stock valued at $20,193,000 after buying an additional 66,786 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Brookfield Business Partners by 13.6% in the third 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 last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its stake in shares of Brookfield Business Partners by 14.7% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider’s stock worth $15,047,000 after purchasing an additional 82,372 shares in the last quarter. Hedge funds and other 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.