Brookfield Business Partners L.P. (NYSE:BBU) Announces Quarterly Dividend of $0.06

Brookfield Business Partners L.P. (NYSE:BBU) declared a quarterly dividend on Monday, August 5th, Wall Street Journal reports. Stockholders of record on Friday, August 30th will be paid a dividend of 0.0625 per share by the business services provider on Friday, September 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, August 30th.

Brookfield Business Partners has a payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brookfield Business Partners to earn $4.45 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 5.6%.

Brookfield Business Partners Trading Down 4.2 %

NYSE BBU traded down $0.85 during mid-day trading on Monday, reaching $19.25. 14,122 shares of the stock were exchanged, compared to its average volume of 14,167. The stock has a market cap of $1.43 billion, a P/E ratio of 2.93 and a beta of 1.47. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.10 and a quick ratio of 0.84. Brookfield Business Partners has a one year low of $12.22 and a one year high of $23.75. The stock has a 50 day simple moving average of $19.14 and a 200-day simple moving average of $20.28.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, August 2nd. The business services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.95). Brookfield Business Partners had a return on equity of 21.64% and a net margin of 7.08%. The business had revenue of $11.95 billion during the quarter. During the same period in the previous year, the business posted $0.85 earnings per share. On average, analysts anticipate that Brookfield Business Partners will post 4.16 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BBU shares. BMO Capital Markets upped their price objective on Brookfield Business Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price objective on shares of Brookfield Business Partners in a research report on Monday. Finally, Cibc World Mkts raised shares of Brookfield Business Partners to a “strong-buy” rating in a research note on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Business Partners has an average rating of “Buy” and a consensus target price of $30.50.

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.