Brookfield Business Partners L.P. (NYSE:BBU) to Post Q2 2022 Earnings of $1.33 Per Share, Desjardins Forecasts

Brookfield Business Partners L.P. (NYSE:BBUGet Rating) – Investment analysts at Desjardins lowered their Q2 2022 EPS estimates for shares of Brookfield Business Partners in a research note issued on Sunday, May 8th. Desjardins analyst G. Ho now anticipates that the business services provider will post earnings per share of $1.33 for the quarter, down from their previous forecast of $1.40. Desjardins also issued estimates for Brookfield Business Partners’ Q3 2022 earnings at $1.55 EPS, Q4 2022 earnings at $1.74 EPS and FY2023 earnings at $6.70 EPS.

BBU has been the subject of several other research reports. TheStreet upgraded Brookfield Business Partners from a “d” rating to a “c-” rating in a research report on Wednesday, March 23rd. National Bankshares reduced their price target on Brookfield Business Partners from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Monday. National Bank Financial dropped their target price on Brookfield Business Partners from $68.00 to $39.00 and set an “outperform” rating on the stock in a report on Wednesday, March 16th. Finally, Zacks Investment Research downgraded Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 22nd. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $50.50.

Shares of BBU opened at $22.92 on Tuesday. The stock has a 50-day moving average price of $29.78 and a 200-day moving average price of $40.34. The company has a market cap of $1.78 billion, a PE ratio of -208.34 and a beta of 1.54. Brookfield Business Partners has a 12-month low of $21.70 and a 12-month high of $51.98. The company has a current ratio of 1.11, a quick ratio of 0.78 and a debt-to-equity ratio of 2.08.

Brookfield Business Partners (NYSE:BBUGet Rating) last issued its quarterly earnings data on Friday, May 6th. The business services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($1.31). Brookfield Business Partners had a net margin of 4.16% and a return on equity of 16.15%. During the same period in the prior year, the firm earned $3.67 EPS.

Several hedge funds have recently modified their holdings of BBU. Steward Partners Investment Advisory LLC boosted its stake in shares of Brookfield Business Partners by 9.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,500 shares of the business services provider’s stock valued at $161,000 after acquiring an additional 300 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Brookfield Business Partners by 120.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,500 shares of the business services provider’s stock valued at $206,000 after buying an additional 2,460 shares during the period. Karpas Strategies LLC raised its holdings in shares of Brookfield Business Partners by 6.3% during the 4th quarter. Karpas Strategies LLC now owns 4,637 shares of the business services provider’s stock valued at $214,000 after buying an additional 275 shares during the period. Wells Fargo & Company MN grew its stake in Brookfield Business Partners by 7.6% during the 2nd quarter. Wells Fargo & Company MN now owns 4,951 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 350 shares in the last quarter. Finally, Gluskin Sheff & Assoc Inc. grew its stake in Brookfield Business Partners by 4.3% during the 4th quarter. Gluskin Sheff & Assoc Inc. now owns 6,386 shares of the business services provider’s stock valued at $293,000 after purchasing an additional 261 shares in the last quarter. 74.20% of the stock is currently owned by institutional investors.

Brookfield Business Partners Company Profile (Get Rating)

Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.

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