Scotiabank Raises Brookfield Business Partners (NYSE:BBU) Price Target to $32.00

Brookfield Business Partners (NYSE:BBU) had its price target upped by investment analysts at Scotiabank from $30.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price target would indicate a potential upside of 48.15% from the stock’s current price.

Separately, BMO Capital Markets lifted their target price on Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Business Partners presently has an average rating of “Buy” and an average target price of $32.80.

Brookfield Business Partners Trading Down 1.6 %

Shares of NYSE BBU opened at $21.60 on Tuesday. Brookfield Business Partners has a twelve month low of $16.85 and a twelve month high of $26.75. The firm has a market cap of $1.60 billion, a PE ratio of 2.67 and a beta of 1.50. The business has a fifty day simple moving average of $23.40 and a two-hundred day simple moving average of $22.33. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 2.12.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.39. The firm 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 firm earned $1.33 earnings per share. Analysts expect that Brookfield Business Partners will post 5.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Business Partners

Several hedge funds and other institutional investors have recently bought and sold shares of BBU. Brookfield Corp ON boosted its holdings in Brookfield Business Partners by 1.7% during the third quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock worth $596,538,000 after buying an additional 428,511 shares in the last quarter. PCJ Investment Counsel Ltd. grew its holdings 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 valued at $35,528,000 after purchasing an additional 188,743 shares during the period. Bank of Montreal Can increased its stake in Brookfield Business Partners by 8.7% during the third quarter. Bank of Montreal Can now owns 834,512 shares of the business services provider’s stock worth $20,193,000 after acquiring an additional 66,786 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of 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 valued at $18,145,000 after acquiring an additional 92,413 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of Brookfield Business Partners by 14.7% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider’s stock valued at $15,047,000 after buying an additional 82,372 shares during the period. Institutional investors and hedge funds own 85.04% of the company’s stock.

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.