Brookfield Business Partners (NYSE:BBU) Shares Gap Down After Analyst Downgrade

Brookfield Business Partners L.P. (NYSE:BBU)’s share price gapped down prior to trading on Monday after Royal Bank of Canada lowered their price target on the stock from $32.00 to $31.00. The stock had previously closed at $18.89, but opened at $18.48. Royal Bank of Canada currently has an outperform rating on the stock. Brookfield Business Partners shares last traded at $18.87, with a volume of 725 shares trading hands.

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

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC purchased a new stake in shares of Brookfield Business Partners in the third quarter valued at about $476,000. Gold Investment Management Ltd. purchased a new stake in Brookfield Business Partners during the fourth quarter worth about $618,000. Principal Financial Group Inc. boosted its holdings in Brookfield Business Partners by 77.9% during the third quarter. Principal Financial Group Inc. now owns 65,176 shares of the business services provider’s stock worth $991,000 after buying an additional 28,541 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Brookfield Business Partners by 44.1% during the fourth quarter. Russell Investments Group Ltd. now owns 50,102 shares of the business services provider’s stock worth $1,039,000 after buying an additional 15,344 shares in the last quarter. Finally, Scotia Capital Inc. boosted its holdings in Brookfield Business Partners by 19.3% during the third 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. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Business Partners Trading Up 0.2 %

The stock has a market cap of $1.41 billion, a PE ratio of 2.97 and a beta of 1.44. The business’s fifty day moving average is $20.61 and its 200 day moving average is $19.32. 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 (NYSE:BBU) last announced its earnings results on Friday, February 2nd. The business services provider reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $5.67. The company had revenue of $13.41 billion during the quarter. Brookfield Business Partners had a net margin of 7.08% and a return on equity of 21.72%. During the same quarter in the previous year, the firm posted $1.49 EPS. As a group, analysts predict that Brookfield Business Partners L.P. will post 3.95 earnings per share for the current year.

Brookfield Business Partners Announces Dividend

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

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.