Brookfield Business Partners (NYSE:BBU) Releases Quarterly 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 EPS for the quarter, topping the consensus estimate of $1.00 by $0.39, Zacks reports. The firm had revenue of $9.23 billion during the quarter. Brookfield Business Partners had a return on equity of 21.76% and a net margin of 7.34%. During the same period in the previous year, the firm earned $1.33 earnings per share.

Brookfield Business Partners Stock Performance

Shares of BBU traded up $0.01 during mid-day trading on Monday, reaching $25.03. 33,582 shares of the company’s stock traded hands, compared to its average volume of 14,117. The business’s 50-day moving average price is $22.48 and its 200-day moving average price is $20.46. The stock has a market capitalization of $1.86 billion, a P/E ratio of 3.09 and a beta of 1.45. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.74 and a current ratio of 1.00. Brookfield Business Partners has a 12 month low of $14.44 and a 12 month high of $25.64.

Brookfield Business Partners Increases Dividend

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

Analyst Upgrades and Downgrades

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