Brookfield Business Partners (NYSE:BBU) Research Coverage Started at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce assumed coverage on shares of Brookfield Business Partners (NYSE:BBU) in a report released on Friday morning, MarketBeat reports. The firm issued a sector outperform rating and a $44.00 price objective on the business services provider’s stock.

Other equities analysts have also issued research reports about the stock. Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday, February 2nd. Zacks Research lowered shares of Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada raised their price objective on shares of Brookfield Business Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, January 21st. Finally, National Bank Financial upped their target price on Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Six investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Brookfield Business Partners presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Brookfield Business Partners Stock Down 1.5%

BBU opened at $34.14 on Friday. Brookfield Business Partners has a 12 month low of $18.63 and a 12 month high of $37.75. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.27 and a quick ratio of 0.19. The stock has a market cap of $2.99 billion, a P/E ratio of -131.29 and a beta of 1.30. The stock’s 50 day moving average price is $35.40 and its 200 day moving average price is $33.07.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($1.86). The business had revenue of $7 billion for the quarter, compared to analyst estimates of $3.46 billion. Brookfield Business Partners had a return on equity of 2.67% and a net margin of 1.41%. As a group, research analysts predict that Brookfield Business Partners will post 5.25 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Business Partners

Large investors have recently modified their holdings of the stock. PCJ Investment Counsel Ltd. grew its holdings in shares of Brookfield Business Partners by 5.3% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,338,079 shares of the business services provider’s stock worth $43,786,000 after acquiring an additional 67,295 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in Brookfield Business Partners by 1.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,119,781 shares of the business services provider’s stock worth $35,513,000 after purchasing an additional 17,508 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Brookfield Business Partners by 214.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,013,814 shares of the business services provider’s stock worth $35,483,000 after purchasing an additional 690,915 shares in the last quarter. Picton Mahoney Asset Management raised its holdings in Brookfield Business Partners by 74.4% during the 3rd quarter. Picton Mahoney Asset Management now owns 696,679 shares of the business services provider’s stock worth $22,849,000 after buying an additional 297,180 shares during the period. Finally, Bank of Montreal Can lifted its stake in Brookfield Business Partners by 16.4% during the fourth quarter. Bank of Montreal Can now owns 643,920 shares of the business services provider’s stock valued at $22,787,000 after buying an additional 90,772 shares in the last quarter. 85.04% of the stock is owned by institutional investors.

Brookfield Business Partners Company Profile

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.