FY2024 Earnings Forecast for BBU Issued By Desjardins

Brookfield Business Partners L.P. (NYSE:BBU) – Equities research analysts at Desjardins boosted their FY2024 earnings per share (EPS) estimates for Brookfield Business Partners in a research note issued to investors on Sunday, November 10th. Desjardins analyst G. Ho now anticipates that the business services provider will earn $5.38 per share for the year, up from their previous forecast of $4.23. The consensus estimate for Brookfield Business Partners’ current full-year earnings is $5.43 per share.

Separately, Royal Bank of Canada restated an “outperform” rating and set a $32.00 price target on shares of Brookfield Business Partners in a report on Monday, August 5th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $31.40.

Brookfield Business Partners Price Performance

Shares of BBU opened at $25.15 on Wednesday. The business has a 50-day moving average of $22.75 and a 200-day moving average of $20.57. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.24 and a quick ratio of 0.74. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 3.10 and a beta of 1.45. Brookfield Business Partners has a 1 year low of $15.00 and a 1 year high of $25.64.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.39. The business had revenue of $9.23 billion during the quarter. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. During the same quarter in the previous year, the company earned $1.33 earnings per share.

Hedge Funds Weigh In On Brookfield Business Partners

A number of institutional investors and hedge funds have recently made changes to their positions in BBU. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Brookfield Business Partners by 13.6% during 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. Bank of Montreal Can lifted its position in Brookfield Business Partners by 8.7% in 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 acquiring an additional 66,786 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. increased its holdings in Brookfield Business Partners by 14.7% during 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. PCJ Investment Counsel Ltd. raised its stake in shares of 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. Finally, Gold Investment Management Ltd. lifted its holdings in shares of Brookfield Business Partners by 7.4% in the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock valued at $739,000 after purchasing an additional 2,169 shares in the last quarter. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.063 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.25 annualized dividend and a dividend yield of 1.00%. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06. Brookfield Business Partners’s payout ratio is currently 3.09%.

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.