Brookfield Business Partners (BBU) Price Target Cut to $46.00 by Analysts at Royal Bank of Canada

Brookfield Business Partners (NYSE:BBU) had its price objective trimmed by Royal Bank of Canada from $47.00 to $46.00 in a research note released on Tuesday morning. The brokerage currently has a buy rating on the business services provider’s stock.

A number of other analysts have also recently commented on the stock. ValuEngine cut shares of Brookfield Business Partners from a buy rating to a hold rating in a research report on Thursday, November 1st. Scotiabank assumed coverage on shares of Brookfield Business Partners in a research report on Wednesday, September 19th. They set a hold rating and a $49.00 price objective on the stock. Finally, Credit Suisse Group set a $54.00 price objective on shares of Brookfield Business Partners and gave the stock a buy rating in a research report on Thursday, August 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Brookfield Business Partners currently has a consensus rating of Buy and a consensus price target of $48.75.

BBU traded down $0.03 during trading on Tuesday, reaching $37.48. 12,133 shares of the stock traded hands, compared to its average volume of 15,341. The company has a current ratio of 1.27, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $2.58 billion, a P/E ratio of 324.58 and a beta of 1.91. Brookfield Business Partners has a 12 month low of $29.54 and a 12 month high of $46.55.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, November 30th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.67%.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its holdings in shares of Brookfield Business Partners by 5.7% in the 3rd quarter. Bank of Montreal Can now owns 1,278,923 shares of the business services provider’s stock worth $58,549,000 after acquiring an additional 68,772 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Brookfield Business Partners by 9.9% in the 3rd quarter. Acadian Asset Management LLC now owns 697,728 shares of the business services provider’s stock worth $31,962,000 after acquiring an additional 62,600 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of Brookfield Business Partners by 55.4% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 500,400 shares of the business services provider’s stock worth $22,944,000 after acquiring an additional 178,400 shares during the last quarter. CIBC World Markets Inc. raised its holdings in shares of Brookfield Business Partners by 8.9% in the 3rd quarter. CIBC World Markets Inc. now owns 277,604 shares of the business services provider’s stock worth $12,709,000 after acquiring an additional 22,605 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of Brookfield Business Partners by 211.9% in the 2nd quarter. Fiera Capital Corp now owns 220,385 shares of the business services provider’s stock worth $8,448,000 after acquiring an additional 149,735 shares during the last quarter. 75.66% of the stock is currently owned by institutional investors.

Brookfield Business Partners Company Profile

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