Royal Bank of Canada Issues Pessimistic Forecast for Brookfield Business Partners (NYSE:BBU) Stock Price

Brookfield Business Partners (NYSE:BBU) had its target price dropped by analysts at Royal Bank of Canada from $32.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 36.64% from the company’s current price.

A number of other research analysts have also recently commented on the company. Scotiabank upped their target price on Brookfield Business Partners from $32.00 to $33.00 and gave the company a “sector outperform” rating in a research note on Monday. BMO Capital Markets boosted their price objective on Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a report 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $32.60.

Brookfield Business Partners Stock Up 2.0 %

Shares of BBU opened at $21.96 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 2.12. The business has a fifty day moving average of $23.17 and a 200 day moving average of $22.37. The company has a market cap of $1.63 billion, a PE ratio of -44.81 and a beta of 1.50. Brookfield Business Partners has a 52-week low of $16.85 and a 52-week high of $26.75.

Brookfield Business Partners (NYSE:BBU) last released its earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.00%. On average, sell-side analysts expect that Brookfield Business Partners will post 5.26 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BBU. Intact Investment Management Inc. bought a new stake in Brookfield Business Partners during the 3rd quarter valued at $45,000. Bank of New York Mellon Corp increased its stake in shares of Brookfield Business Partners by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock valued at $415,000 after buying an additional 1,448 shares during the period. Gold Investment Management Ltd. raised its holdings in shares of Brookfield Business Partners by 7.4% in the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock valued at $739,000 after acquiring an additional 2,169 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Business Partners by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after acquiring an additional 608 shares in the last quarter. Finally, Tandem Capital Management Corp ADV lifted its stake in Brookfield Business Partners by 24.5% in the third quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock worth $890,000 after acquiring an additional 7,939 shares during the period. Institutional investors own 85.04% of the company’s stock.

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.