Brokerages Set Brookfield Business Partners L.P. (NYSE:BBU) PT at $29.67

Brookfield Business Partners L.P. (NYSE:BBU) has been assigned a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $29.67.

Several research firms recently weighed in on BBU. TheStreet lowered Brookfield Business Partners from a “c” rating to a “d+” rating in a report on Wednesday, March 13th. Desjardins upped their price target on Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Scotiabank upped their target price on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the company a “sector outperform” rating in a research note on Monday, February 5th. BMO Capital Markets upped their price objective on shares of Brookfield Business Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, National Bankshares upped their target price on Brookfield Business Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, February 5th.

Hedge Funds Weigh In On Brookfield Business Partners

A number of large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Brookfield Business Partners by 1.5% in the 3rd quarter. Royal Bank of Canada now owns 8,779,849 shares of the business services provider’s stock valued at $133,455,000 after buying an additional 128,970 shares during the period. K2 Principal Fund L.P. bought a new stake in shares of Brookfield Business Partners during the 4th quarter valued at $2,033,000. Triasima Portfolio Management inc. acquired a new position in shares of Brookfield Business Partners in the 1st quarter valued at $1,405,000. Hsbc Holdings PLC acquired a new stake in shares of Brookfield Business Partners during the third quarter worth $476,000. Finally, Gold Investment Management Ltd. bought a new stake in Brookfield Business Partners in the fourth quarter valued at about $618,000. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Business Partners Stock Down 0.2 %

BBU stock opened at $18.89 on Friday. The company has a 50 day moving average of $20.66 and a two-hundred day moving average of $19.29. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 2.22. Brookfield Business Partners has a 12-month low of $12.22 and a 12-month high of $23.75. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 2.96 and a beta of 1.44.

Brookfield Business Partners (NYSE:BBU) last issued its earnings results on Friday, February 2nd. The business services provider reported $6.57 earnings per share for the quarter, topping the consensus estimate of $0.90 by $5.67. The company had revenue of $13.41 billion for the quarter. Brookfield Business Partners had a return on equity of 21.74% and a net margin of 6.86%. During the same period in the previous year, the company earned $1.49 earnings per share. On average, equities analysts anticipate that Brookfield Business Partners will post 3.95 earnings per share for the current fiscal year.

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.