Brookfield Business Partners (NYSE:BBU) Issues Earnings Results, Beats Estimates By $0.39 EPS

Brookfield Business Partners (NYSE:BBU) issued its earnings results on Friday. The business services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.39, Zacks reports. Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. The business had revenue of $9.23 billion for the quarter. During the same quarter in the previous year, the firm posted $1.33 earnings per share.

Brookfield Business Partners Price Performance

BBU traded up $0.01 on Monday, hitting $25.03. 33,582 shares of the stock were exchanged, compared to its average volume of 14,117. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 3.09 and a beta of 1.45. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.00 and a quick ratio of 0.74. Brookfield Business Partners has a 12 month low of $14.44 and a 12 month high of $25.64. The business has a 50-day moving average of $22.48 and a two-hundred day moving average of $20.46.

Brookfield Business Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.063 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, November 29th. This is a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06. Brookfield Business Partners’s payout ratio is presently 3.09%.

Wall Street Analyst Weigh In

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

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.