Research Analysts Set Expectations for BBU FY2024 Earnings

Brookfield Business Partners L.P. (NYSE:BBU) – Research analysts at Desjardins increased their FY2024 earnings estimates for shares of Brookfield Business Partners in a note issued to investors on Sunday, November 10th. Desjardins analyst G. Ho now expects that the business services provider will earn $5.38 per share for the year, up from their prior estimate of $4.23. The consensus estimate for Brookfield Business Partners’ current full-year earnings is $5.43 per share.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.39. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. The company had revenue of $9.23 billion during the quarter. During the same period in the previous year, the business posted $1.33 earnings per share.

Separately, Royal Bank of Canada restated an “outperform” rating and set a $32.00 price objective on shares of Brookfield Business Partners in a report on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Business Partners has an average rating of “Buy” and a consensus target price of $31.40.

Brookfield Business Partners Trading Up 2.9 %

Shares of Brookfield Business Partners stock opened at $25.15 on Wednesday. The firm has a market cap of $1.87 billion, a PE ratio of 3.10 and a beta of 1.45. Brookfield Business Partners has a 1 year low of $15.00 and a 1 year high of $25.64. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.24 and a quick ratio of 0.74. The stock has a fifty day moving average price of $22.75 and a 200-day moving average price of $20.57.

Hedge Funds Weigh In On Brookfield Business Partners

Several large investors have recently modified their holdings of BBU. Bank of Montreal Can grew its stake in Brookfield Business Partners by 3.1% in the 2nd quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock valued at $15,036,000 after buying an additional 22,886 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Brookfield Business Partners by 12.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider’s stock valued at $12,910,000 after purchasing an additional 77,017 shares in the last quarter. AYAL Capital Advisors Ltd increased its holdings in shares of Brookfield Business Partners by 97.4% in the second quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock worth $848,000 after purchasing an additional 22,200 shares during the period. The Manufacturers Life Insurance Company raised its position 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 worth $770,000 after buying an additional 608 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Brookfield Business Partners during the second quarter valued at $307,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.063 per share. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a yield of 1.00%. Brookfield Business Partners’s dividend payout ratio is 3.09%.

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.