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

Brookfield Business Partners (NYSE:BBU) released its quarterly earnings data on Friday. The business services provider reported $1.39 EPS for the quarter, beating 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 during the quarter. During the same quarter in the prior year, the company earned $1.33 EPS.

Brookfield Business Partners Stock Up 0.0 %

Shares of NYSE BBU traded up $0.01 during midday 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 current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 2.24. Brookfield Business Partners has a fifty-two week low of $14.44 and a fifty-two week high of $25.64. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 3.09 and a beta of 1.45. The stock has a 50 day simple moving average of $22.48 and a 200-day simple moving average of $20.46.

Brookfield Business Partners Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price objective on shares of Brookfield Business Partners in a report on Monday, August 5th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average 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.