Scotiabank Issues Positive Forecast for Brookfield Business Partners (NYSE:BBU) Stock Price

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

Separately, BMO Capital Markets raised their target price on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Brookfield Business Partners presently has an average rating of “Buy” and a consensus target price of $32.60.

Brookfield Business Partners Trading Down 2.0 %

NYSE BBU opened at $21.51 on Monday. Brookfield Business Partners has a 12 month low of $16.85 and a 12 month high of $26.75. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 2.12. The company has a market capitalization of $1.60 billion, a PE ratio of -43.89 and a beta of 1.50. The stock has a 50-day simple moving average of $23.24 and a 200 day simple moving average of $22.36.

Brookfield Business Partners (NYSE:BBU) last posted its earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.00% and a net margin of 2.20%. Research analysts forecast that Brookfield Business Partners will post 5.26 EPS for the current year.

Brookfield Business Partners Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.16%. Brookfield Business Partners’s dividend payout ratio (DPR) is presently -51.02%.

Hedge Funds Weigh In On Brookfield Business Partners

Hedge funds have recently bought and sold shares of the business. Brookfield Corp ON boosted its holdings in shares of Brookfield Business Partners by 1.7% in the 3rd quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock valued at $596,538,000 after purchasing an additional 428,511 shares in the last quarter. PCJ Investment Counsel Ltd. grew its position 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 acquiring an additional 188,743 shares during the last quarter. Bank of Montreal Can raised its position in Brookfield Business Partners by 8.7% in 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 purchasing an additional 66,786 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake 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 valued at $18,145,000 after buying an additional 92,413 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in 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 valued at $15,047,000 after buying an additional 82,372 shares during 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.