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 reduced by Royal Bank of Canada from $47.00 to $46.00 in a report released on Tuesday morning. Royal Bank of Canada currently has a buy rating on the business services provider’s stock.

A number of other equities analysts have also recently commented on the stock. Scotiabank started coverage on shares of Brookfield Business Partners in a research note on Wednesday, September 19th. They issued a hold rating and a $49.00 price objective for the company. 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 note on Thursday, August 23rd. Finally, ValuEngine cut shares of Brookfield Business Partners from a buy rating to a hold rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $48.75.

Shares of NYSE:BBU opened at $40.52 on Tuesday. Brookfield Business Partners has a 52 week low of $29.49 and a 52 week high of $46.55. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 340.58 and a beta of 1.91. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.29 and a quick ratio of 1.08.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, November 30th will be paid a dividend of $0.0625 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.62%.

Several hedge funds have recently added to or reduced their stakes in the stock. Signition LP purchased a new position in shares of Brookfield Business Partners during the 3rd quarter worth about $279,000. Acadian Asset Management LLC boosted its stake in shares of Brookfield Business Partners by 9.9% during the 3rd quarter. Acadian Asset Management LLC now owns 697,728 shares of the business services provider’s stock worth $31,962,000 after purchasing an additional 62,600 shares during the period. Intact Investment Management Inc. boosted its stake in shares of Brookfield Business Partners by 50.3% during the 3rd quarter. Intact Investment Management Inc. now owns 51,100 shares of the business services provider’s stock worth $3,019,000 after purchasing an additional 17,100 shares during the period. Karpas Strategies LLC purchased a new position in shares of Brookfield Business Partners during the 3rd quarter worth about $233,000. Finally, Bank of Montreal Can boosted its stake in shares of Brookfield Business Partners by 5.7% during 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 purchasing an additional 68,772 shares during the period. 75.66% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Business Partners

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