BBU Q4 EPS Estimate Increased by National Bank Financial

Brookfield Business Partners L.P. (NYSE:BBU) – Investment analysts at National Bank Financial upped their Q4 2024 earnings estimates for Brookfield Business Partners in a research note issued to investors on Tuesday, October 29th. National Bank Financial analyst J. Gloyn now forecasts that the business services provider will earn $1.01 per share for the quarter, up from their previous forecast of $0.99. The consensus estimate for Brookfield Business Partners’ current full-year earnings is $4.52 per share.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Brookfield Business Partners in a report on Monday, August 5th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $31.40.

Brookfield Business Partners Trading Up 1.0 %

BBU opened at $22.49 on Friday. The firm has a market cap of $1.67 billion, a price-to-earnings 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 business’s 50 day moving average is $22.16 and its two-hundred day moving average is $20.29. 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 announced its earnings results on Friday, August 2nd. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.95). The firm had revenue of $11.95 billion during the quarter. Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. During the same period in the previous year, the business posted $0.85 earnings per share.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds have recently modified their holdings of the company. Gold Investment Management Ltd. lifted its stake in shares of Brookfield Business Partners by 7.4% during the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock valued at $739,000 after buying an additional 2,169 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Brookfield Business Partners by 29.9% during the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock worth $2,731,000 after purchasing an additional 26,947 shares during the period. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Business Partners during the third quarter worth $45,000. Tandem Capital Management Corp ADV grew its position in shares of 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 valued at $890,000 after purchasing an additional 7,939 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in 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 purchasing an additional 608 shares during the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

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.