Zacks: Analysts Expect Brookfield Business Partners L.P. (NYSE:BBU) Will Announce Earnings of $1.26 Per Share

Equities analysts forecast that Brookfield Business Partners L.P. (NYSE:BBU – Get Rating) will announce earnings of $1.26 per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Brookfield Business Partners’ earnings, with the lowest EPS estimate coming in at $1.19 and the highest estimate coming in at $1.33. Brookfield Business Partners posted earnings of ($0.63) per share during the same quarter last year, which indicates a positive year over year growth rate of 300%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Brookfield Business Partners will report full year earnings of $6.03 per share for the current financial year. For the next year, analysts anticipate that the company will post earnings of $6.70 per share. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Brookfield Business Partners.

Brookfield Business Partners (NYSE:BBU – Get Rating) last released its earnings results on Friday, May 6th. The business services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($1.31). Brookfield Business Partners had a net margin of 0.38% and a return on equity of 1.59%. During the same quarter in the prior year, the company earned $3.67 EPS.

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A number of research analysts have recently weighed in on the stock. TheStreet raised shares of Brookfield Business Partners from a “d” rating to a “c-” rating in a research report on Wednesday, March 23rd. Desjardins upped their price target on shares of Brookfield Business Partners from $57.00 to $59.00 in a research note on Monday, February 7th. National Bankshares dropped their price target on shares of Brookfield Business Partners from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Monday, May 9th. National Bank Financial dropped their price target on shares of Brookfield Business Partners from $68.00 to $39.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 16th. Finally, Zacks Investment Research cut shares of Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 22nd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, Brookfield Business Partners has a consensus rating of “Buy” and a consensus price target of $50.50.

A number of hedge funds and other institutional investors have recently bought and sold shares of BBU. Brookfield Asset Management Inc. increased its holdings in shares of Brookfield Business Partners by 6.0% in the 3rd quarter. Brookfield Asset Management Inc. now owns 26,279,715 shares of the business services provider’s stock worth $1,205,976,000 after buying an additional 1,495,469 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Brookfield Business Partners by 4.3% in the 3rd quarter. Royal Bank of Canada now owns 7,194,514 shares of the business services provider’s stock worth $330,156,000 after buying an additional 299,314 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Brookfield Business Partners by 8.1% during the 1st quarter. CIBC Asset Management Inc now owns 2,871,820 shares of the business services provider’s stock valued at $87,782,000 after purchasing an additional 215,739 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Brookfield Business Partners by 2.5% during the 1st quarter. 1832 Asset Management L.P. now owns 1,337,835 shares of the business services provider’s stock valued at $40,399,000 after purchasing an additional 33,160 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Brookfield Business Partners by 3.8% during the 4th quarter. Bank of Montreal Can now owns 928,820 shares of the business services provider’s stock valued at $44,503,000 after purchasing an additional 34,413 shares during the last quarter. Institutional investors and hedge funds own 74.20% of the company’s stock.

Brookfield Business Partners stock opened at $23.12 on Friday. Brookfield Business Partners has a twelve month low of $20.26 and a twelve month high of $51.98. The firm has a 50 day moving average price of $25.58 and a 200-day moving average price of $36.93. The company has a market capitalization of $1.80 billion, a P/E ratio of -210.16 and a beta of 1.54. The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 0.13.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st will be paid a $0.063 dividend. The ex-dividend date of this dividend is Friday, May 27th. This is a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a yield of 1.09%. Brookfield Business Partners’s dividend payout ratio is currently -227.25%.

Brookfield Business Partners Company Profile (Get Rating)

Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.

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