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

Brookfield Business Partners (NYSE:BBU) had its target price lifted by investment analysts at Scotiabank from $30.00 to $32.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price target would suggest a potential upside of 44.47% from the company’s current price.

Separately, BMO Capital Markets increased their price target on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $32.80.

Brookfield Business Partners Stock Up 0.4 %

NYSE:BBU traded up $0.08 during mid-day trading on Tuesday, hitting $22.15. 2,861 shares of the company’s stock were exchanged, compared to its average volume of 18,469. The company has a market cap of $1.65 billion, a PE ratio of 2.73 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95. Brookfield Business Partners has a one year low of $16.85 and a one year high of $26.75. The business has a fifty day moving average price of $23.50 and a 200 day moving average price of $22.30.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.39. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. The firm had revenue of $9.23 billion for the quarter. During the same period in the prior year, the firm earned $1.33 earnings per share. Equities analysts predict that Brookfield Business Partners will post 5.43 EPS for the current year.

Hedge Funds Weigh In On Brookfield Business Partners

Institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in Brookfield Business Partners by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after acquiring an additional 608 shares during the period. Tandem Capital Management Corp ADV lifted its stake in shares of Brookfield Business Partners by 24.5% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock worth $890,000 after purchasing an additional 7,939 shares during the period. Intact Investment Management Inc. purchased a new position in shares of Brookfield Business Partners in the third quarter worth approximately $45,000. Principal Financial Group Inc. grew its position in Brookfield Business Partners by 29.9% during the third quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock valued at $2,731,000 after buying an additional 26,947 shares during the period. Finally, Gold Investment Management Ltd. increased its holdings in Brookfield Business Partners by 7.4% during the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock valued at $739,000 after buying an additional 2,169 shares during the last quarter. 85.04% of the stock is currently owned by hedge funds and other 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.