Royal Bank of Canada Downgrades Brookfield Business Partners (BBU) to Sector Perform

Brookfield Business Partners (NYSE:BBU) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued on Tuesday, MarketBeat reports. They presently have a $42.00 price target on the business services provider’s stock, down from their prior price target of $46.00. Royal Bank of Canada’s target price indicates a potential upside of 23.42% from the stock’s current price.

Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of Brookfield Business Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Credit Suisse Group started coverage on shares of Brookfield Business Partners in a research report on Friday, November 16th. They set a “buy” rating and a $54.00 target price on the stock. BMO Capital Markets started coverage on shares of Brookfield Business Partners in a research report on Tuesday, November 20th. They set an “outperform” rating and a $47.00 target price on the stock. Finally, Scotiabank started coverage on shares of Brookfield Business Partners in a research report on Wednesday, September 19th. They set a “hold” rating and a $49.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $47.60.

Brookfield Business Partners stock opened at $34.03 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.15 and a debt-to-equity ratio of 1.50. Brookfield Business Partners has a 1-year low of $29.82 and a 1-year high of $46.55.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Thursday, November 8th. The business services provider reported ($1.02) earnings per share for the quarter. Brookfield Business Partners had a return on equity of 12.62% and a net margin of 2.27%. The firm had revenue of $9.99 billion during the quarter.

A number of hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp increased its holdings in Brookfield Business Partners by 21.2% during the third quarter. Mackenzie Financial Corp now owns 106,977 shares of the business services provider’s stock valued at $6,334,000 after buying an additional 18,747 shares during the period. Worth Venture Partners LLC purchased a new position in Brookfield Business Partners during the third quarter valued at approximately $104,000. Jane Street Group LLC purchased a new position in Brookfield Business Partners during the third quarter valued at approximately $536,000. PCJ Investment Counsel Ltd. increased its holdings in Brookfield Business Partners by 89.0% during the third quarter. PCJ Investment Counsel Ltd. now owns 28,350 shares of the business services provider’s stock valued at $1,298,000 after buying an additional 13,350 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Brookfield Business Partners by 3.2% during the third quarter. Renaissance Technologies LLC now owns 163,450 shares of the business services provider’s stock valued at $7,486,000 after buying an additional 5,100 shares during the period. 75.32% of the stock is currently owned by institutional investors.

About Brookfield Business Partners

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Analyst Recommendations for Brookfield Business Partners (NYSE:BBU)

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