Brookfield Business Partners (NYSE:BBU) Issues Quarterly Earnings Results, Beats Estimates By $1.33 EPS

Brookfield Business Partners (NYSE:BBU) announced its quarterly earnings data on Friday. The business services provider reported $1.47 EPS for the quarter, topping the consensus estimate of $0.14 by $1.33, Zacks reports. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%.

Brookfield Business Partners Trading Up 0.9 %

Shares of BBU stock opened at $21.93 on Friday. Brookfield Business Partners has a 1 year low of $16.85 and a 1 year high of $26.75. The company’s fifty day simple moving average is $23.30 and its two-hundred day simple moving average is $22.32. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 2.71 and a beta of 1.50.

Brookfield Business Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a $0.063 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Business Partners’s payout ratio is currently 3.09%.

Analyst Upgrades and Downgrades

BBU has been the subject of several research analyst reports. BMO Capital Markets raised their price target on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Scotiabank raised their target price on Brookfield Business Partners from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Business Partners presently has a consensus rating of “Buy” and an average target price of $32.80.

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.