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 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 Stock Performance

NYSE:BBU traded up $0.15 during mid-day trading on Friday, hitting $21.88. 5,865 shares of the stock were exchanged, compared to its average volume of 19,052. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 1.17. The firm’s 50-day simple moving average is $23.30 and its 200 day simple moving average is $22.32. Brookfield Business Partners has a fifty-two week low of $16.85 and a fifty-two week high of $26.75. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 2.70 and a beta of 1.50.

Brookfield Business Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a $0.063 dividend. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.25 annualized dividend and a dividend yield of 1.15%. Brookfield Business Partners’s dividend payout ratio is presently 3.09%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BBU. Scotiabank raised their price target on shares of Brookfield Business Partners from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. 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. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.