National Bank Financial Forecasts BBU FY2024 Earnings

Brookfield Business Partners L.P. (NYSE:BBU) – Equities research analysts at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for Brookfield Business Partners in a research note issued on Tuesday, October 29th. National Bank Financial analyst J. Gloyn now expects that the business services provider will earn $4.81 per share for the year, up from their previous estimate of $4.80. The consensus estimate for Brookfield Business Partners’ current full-year earnings is $4.52 per share. National Bank Financial also issued estimates for Brookfield Business Partners’ FY2025 earnings at $4.63 EPS.

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price target on shares of Brookfield Business Partners in a report on Monday, August 5th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Business Partners has an average rating of “Buy” and an average target price of $31.40.

Brookfield Business Partners Trading Up 1.0 %

BBU opened at $22.49 on Thursday. The stock’s fifty day moving average is $22.16 and its two-hundred day moving average is $20.29. The company has a market capitalization of $1.67 billion, a P/E ratio of 3.45 and a beta of 1.45. Brookfield Business Partners has a 52 week low of $13.00 and a 52 week high of $24.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 2.24.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings data on Friday, August 2nd. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.86 by ($0.95). The firm had revenue of $11.95 billion for the quarter. Brookfield Business Partners had a return on equity of 21.76% and a net margin of 7.34%. During the same quarter in the prior year, the firm earned $0.85 EPS.

Institutional Trading of Brookfield Business Partners

A number of institutional investors have recently made changes to their positions in BBU. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Business Partners in the 3rd quarter worth $45,000. Bank of New York Mellon Corp acquired a new stake in Brookfield Business Partners during the 2nd quarter worth about $307,000. Gold Investment Management Ltd. lifted its position in Brookfield Business Partners by 7.4% during the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock worth $739,000 after acquiring an additional 2,169 shares during the period. The Manufacturers Life Insurance Company lifted its position in Brookfield Business Partners by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock worth $770,000 after acquiring an additional 608 shares during the period. Finally, AYAL Capital Advisors Ltd lifted its position in Brookfield Business Partners by 97.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock worth $848,000 after acquiring an additional 22,200 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.