Brookfield Business Partners (NYSE:BBU) Price Target Cut to $30.00 by Analysts at Royal Bank of Canada

Brookfield Business Partners (NYSE:BBU) had its price target cut by Royal Bank of Canada from $32.00 to $30.00 in a report issued on Monday morning,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Several other research analysts have also issued reports on BBU. BMO Capital Markets raised their price target 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. Scotiabank lifted their target price on shares of Brookfield Business Partners from $32.00 to $33.00 and gave the stock a “sector outperform” rating in a research note on Monday. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $32.60.

Brookfield Business Partners Stock Down 2.0 %

NYSE:BBU opened at $21.51 on Monday. Brookfield Business Partners has a one year low of $16.85 and a one year high of $26.75. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95. The company has a market cap of $1.60 billion, a PE ratio of -43.89 and a beta of 1.50. The firm’s 50 day simple moving average is $23.24 and its 200 day simple moving average is $22.36.

Brookfield Business Partners (NYSE:BBU) last announced its earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) 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%. On average, research analysts anticipate that Brookfield Business Partners will post 5.26 earnings per share for the current year.

Brookfield Business Partners Cuts Dividend

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

Institutional Investors Weigh In On Brookfield Business Partners

A number of large investors have recently bought and sold shares of BBU. Brookfield Corp ON raised its holdings in shares of 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 purchasing an additional 428,511 shares during the period. PCJ Investment Counsel Ltd. increased its position in Brookfield Business Partners by 14.2% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock valued at $35,528,000 after buying an additional 188,743 shares in the last quarter. Bank of Montreal Can raised its stake in 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 worth $20,193,000 after buying an additional 66,786 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake 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. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in Brookfield Business Partners by 14.7% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider’s stock worth $15,047,000 after acquiring an additional 82,372 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

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.