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

Brookfield Business Partners L.P. (NYSE:BBU) shares gapped down before the market opened 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 changing hands.

A number of other equities research analysts have also recently commented on the stock. National Bankshares increased their target price on shares of Brookfield Business Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Desjardins boosted their target price on Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. BMO Capital Markets upped their target price on Brookfield Business Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday. Scotiabank raised their price target on Brookfield Business Partners from $26.50 to $28.00 and gave the stock a “sector outperform” rating in a report on Monday, February 5th. Finally, TheStreet downgraded shares of Brookfield Business Partners from a “c” rating to a “d+” rating in a report on Wednesday, March 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Brookfield Business Partners has an average rating of “Buy” and an average price target of $30.33.

Institutional Investors Weigh In On Brookfield Business Partners

Large investors have recently bought and sold shares of the company. Gold Investment Management Ltd. acquired a new stake in shares of Brookfield Business Partners during the 4th quarter worth approximately $618,000. Hsbc Holdings PLC purchased a new position in Brookfield Business Partners in the third quarter valued at $476,000. Russell Investments Group Ltd. raised its position in shares of Brookfield Business Partners by 44.1% in the fourth quarter. Russell Investments Group Ltd. now owns 50,102 shares of the business services provider’s stock worth $1,039,000 after acquiring an additional 15,344 shares during the period. Montrusco Bolton Investments Inc. grew its position in shares of Brookfield Business Partners by 54.3% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 59,354 shares of the business services provider’s stock valued at $1,231,000 after acquiring an additional 20,891 shares during the period. Finally, Triasima Portfolio Management inc. purchased a new position in shares of Brookfield Business Partners in the 1st quarter valued at about $1,405,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Stock Up 0.2 %

The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 2.22. The business has a fifty day moving average of $20.66 and a two-hundred day moving average of $19.29. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 2.98 and a beta of 1.44.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Friday, February 2nd. The business services provider reported $6.57 EPS for the quarter, topping the consensus estimate of $0.90 by $5.67. Brookfield Business Partners had a net margin of 7.08% and a return on equity of 21.72%. The company had revenue of $13.41 billion during the quarter. During the same period in the previous year, the firm posted $1.49 EPS. As a group, equities analysts anticipate that Brookfield Business Partners L.P. will post 3.95 EPS for the current fiscal year.

Brookfield Business Partners Dividend Announcement

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

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.