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

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

Brookfield Business Partners Stock Up 0.0 %

Shares of BBU stock traded up $0.01 during trading on Monday, reaching $25.03. The company’s stock had a trading volume of 33,582 shares, compared to its average volume of 14,117. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.00 and a quick ratio of 0.74. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 3.09 and a beta of 1.45. The stock’s 50-day moving average price is $22.48 and its 200 day moving average price is $20.46. Brookfield Business Partners has a 1-year low of $14.44 and a 1-year high of $25.64.

Brookfield Business Partners Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.