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

Brookfield Business Partners (NYSE:BBU) issued its quarterly earnings results on Friday. The business services provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 Price Performance

BBU stock traded up $0.15 during midday trading on Friday, reaching $21.88. The company had a trading volume of 5,865 shares, compared to its average volume of 19,052. The firm has a 50-day moving average price of $23.30 and a 200-day moving average price of $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 company has a market capitalization of $1.62 billion, a P/E ratio of 2.70 and a beta of 1.50. Brookfield Business Partners has a 1 year low of $16.85 and a 1 year high of $26.75.

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 dividend of $0.063 per share. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, November 29th. This represents a $0.25 annualized dividend and a yield of 1.15%. Brookfield Business Partners’s dividend payout ratio (DPR) is currently 3.09%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BBU shares. BMO Capital Markets lifted their price objective on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Scotiabank raised their target price on shares of Brookfield Business Partners from $30.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Brookfield Business Partners currently has an average rating of “Buy” and a consensus 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.