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

Brookfield Business Partners (NYSE:BBU) issued its quarterly earnings data 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. Brookfield Business Partners had a return on equity of 21.76% and a net margin of 7.34%. The business had revenue of $9.23 billion for the quarter. During the same period in the previous year, the business posted $1.33 earnings per share.

Brookfield Business Partners Stock Performance

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

Brookfield Business Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid 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 dividend yield of 1.01%. This is a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06. Brookfield Business Partners’s dividend payout ratio is currently 3.09%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price target 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 issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average 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.