Brookfield Business (NYSE:BBUC) Stock Gets Price Target Reduction from Royal Bank Of Canada

Brookfield Business (NYSE:BBUC) had its target price decreased by Royal Bank Of Canada from $40.00 to $34.00 in a research report released on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on BBUC. Weiss Ratings upgraded shares of Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. TD Cowen decreased their price objective on Brookfield Business from $32.00 to $29.00 and set a “hold” rating on the stock in a research report on Monday, October 12th. Scotiabank set a $40.50 price objective on Brookfield Business in a research report on Friday, July 24th. Finally, Wall Street Zen cut Brookfield Business from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.83.

Brookfield Business Trading Down 0.8%

Shares of NYSE BBUC opened at $26.56 on Thursday. Brookfield Business has a 1-year low of $24.80 and a 1-year high of $38.25. The company has a 50-day moving average of $26.95 and a two-hundred day moving average of $30.46. The company has a market cap of $5.46 billion, a PE ratio of -68.09 and a beta of 1.33. The company has a current ratio of 1.44, a quick ratio of 1.22 and a debt-to-equity ratio of 2.92.

Brookfield Business (NYSE:BBUC) last released its quarterly earnings results on Friday, July 31st. The company reported $0.18 EPS for the quarter. The business had revenue of $6.50 billion for the quarter. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. As a group, equities analysts expect that Brookfield Business will post 5.31 earnings per share for the current fiscal year.

Brookfield Business Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, August 31st. Brookfield Business’s dividend payout ratio is currently -64.10%.

Hedge Funds Weigh In On Brookfield Business

Several hedge funds have recently added to or reduced their stakes in BBUC. Citadel Advisors LLC bought a new position in Brookfield Business during the second quarter worth about $1,140,000. The Manufacturers Life Insurance Company acquired a new position in shares of Brookfield Business during the 2nd quarter worth about $2,283,000. TD Waterhouse Canada Inc. acquired a new position in shares of Brookfield Business during the 2nd quarter worth about $23,247,000. State Street Corp acquired a new position in shares of Brookfield Business during the 2nd quarter worth about $29,617,000. Finally, Tidal Investments LLC bought a new stake in shares of Brookfield Business in the 2nd quarter valued at about $529,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Company Profile

Brookfield Business Corporation (NYSE: BBUC) is a publicly traded company that provides investors with an alternative way to participate in the operations of Brookfield Business Partners L.P. The corporation’s shares are designed to be economically equivalent to units of Brookfield Business Partners and are supported by the company’s portfolio of operating businesses.

Brookfield Business Partners and its affiliated businesses focus on owning and operating companies in sectors including business services, infrastructure services, healthcare and industrial operations.