CIBC Issues Pessimistic Forecast for Brookfield Business Partners (NYSE:BBU) Stock Price

Brookfield Business Partners (NYSE:BBU - Free Report) had its price target lowered by CIBC from $34.00 to $30.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an outperformer rating on the business services provider's stock.

A number of other equities analysts also recently issued reports on BBU. Royal Bank of Canada cut their price target on Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Scotiabank decreased their price target on Brookfield Business Partners from $33.00 to $29.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. Finally, BMO Capital Markets raised their price objective on Brookfield Business Partners from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Brookfield Business Partners currently has an average rating of "Buy" and an average target price of $31.00.

Brookfield Business Partners Stock Up 2.1 %

BBU stock traded up $0.46 during trading on Monday, reaching $22.35. 13,310 shares of the stock were exchanged, compared to its average volume of 15,211. The company has a current ratio of 0.50, a quick ratio of 0.39 and a debt-to-equity ratio of 2.12. Brookfield Business Partners has a twelve month low of $16.85 and a twelve month high of $26.75. The firm's 50 day moving average is $22.35 and its 200 day moving average is $23.10. The firm has a market cap of $2.00 billion, a P/E ratio of -45.61 and a beta of 1.34.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.09%. As a group, research analysts forecast that Brookfield Business Partners will post 5.25 EPS for the current year.

Institutional Trading of Brookfield Business Partners

A number of large investors have recently added to or reduced their stakes in the stock. Intact Investment Management Inc. grew its position in shares of Brookfield Business Partners by 52.6% during the 4th quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider's stock valued at $68,000 after acquiring an additional 1,000 shares during the period. Gold Investment Management Ltd. increased its position in Brookfield Business Partners by 3.2% in the fourth quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider's stock worth $767,000 after buying an additional 1,017 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Brookfield Business Partners by 2.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider's stock worth $987,000 after buying an additional 1,146 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Brookfield Business Partners by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider's stock valued at $415,000 after buying an additional 1,448 shares during the last quarter. Finally, K2 Principal Fund L.P. grew its stake in shares of Brookfield Business Partners by 5.8% during the 4th quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider's stock worth $1,227,000 after acquiring an additional 2,880 shares during the period. Hedge funds and other institutional investors own 85.04% of the company's stock.

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.