Brookfield Business Partners (NYSE:BBU) Price Target Lowered to $31.00 at Royal Bank of Canada

Brookfield Business Partners (NYSE:BBU) had its price objective decreased by Royal Bank of Canada from $32.00 to $31.00 in a research report released on Monday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the business services provider’s stock.

A number of other equities analysts also recently weighed in on BBU. TheStreet downgraded shares of Brookfield Business Partners from a c rating to a d+ rating in a research note on Wednesday, March 13th. Desjardins increased their target price on Brookfield Business Partners from $31.00 to $32.00 and gave the stock a buy rating in a research report on Monday, February 5th. National Bankshares boosted their price target on Brookfield Business Partners from $33.00 to $34.00 and gave the company an outperform rating in a research report on Monday, February 5th. BMO Capital Markets raised their price objective on Brookfield Business Partners from $30.00 to $31.00 and gave the stock an outperform rating in a report on Monday. Finally, Scotiabank boosted their target price on Brookfield Business Partners from $26.50 to $28.00 and gave the stock a sector outperform rating in a report on Monday, February 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Brookfield Business Partners currently has an average rating of Buy and an average target price of $30.33.

Brookfield Business Partners Stock Performance

NYSE BBU opened at $18.93 on Monday. The business’s 50-day moving average price is $20.61 and its 200 day moving average price is $19.32. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 2.22. Brookfield Business Partners has a twelve month low of $12.22 and a twelve month high of $23.75. The company has a market capitalization of $1.41 billion, a PE ratio of 2.97 and a beta of 1.44.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, February 2nd. The business services provider reported $6.57 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $5.67. Brookfield Business Partners had a net margin of 7.08% and a return on equity of 21.72%. The company had revenue of $13.41 billion during the quarter. During the same period in the prior year, the company earned $1.49 EPS. On average, research analysts predict that Brookfield Business Partners will post 3.95 earnings per share for the current year.

Brookfield Business Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Business Partners’s dividend payout ratio is presently 3.92%.

Institutional Trading of Brookfield Business Partners

Large investors have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new position in shares of Brookfield Business Partners during the third quarter worth $476,000. Royal Bank of Canada lifted its holdings in 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 worth $133,455,000 after buying an additional 128,970 shares in the last quarter. Scotia Capital Inc. lifted its holdings in Brookfield Business Partners by 19.3% in the 3rd quarter. Scotia Capital Inc. now owns 81,371 shares of the business services provider’s stock worth $1,229,000 after buying an additional 13,155 shares in the last quarter. Principal Financial Group Inc. boosted its position in Brookfield Business Partners by 77.9% in the 3rd quarter. Principal Financial Group Inc. now owns 65,176 shares of the business services provider’s stock valued at $991,000 after buying an additional 28,541 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Brookfield Business Partners by 4.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,300 shares of the business services provider’s stock valued at $2,525,000 after acquiring an additional 6,700 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

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.