Brookfield Business (NYSE:BBUC) Now Covered by TD Cowen

Analysts at TD Cowen initiated coverage on shares of Brookfield Business (NYSE:BBUC) in a report issued on Tuesday. The brokerage set a “hold” rating on the stock.

A number of other research analysts also recently weighed in on BBUC. Wall Street Zen raised Brookfield Business from a “hold” rating to a “buy” rating in a research note on Monday. Royal Bank Of Canada decreased their price objective on Brookfield Business from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce set a $41.50 target price on Brookfield Business in a research note on Monday, May 11th. Weiss Ratings cut Brookfield Business from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 8th. Finally, Zacks Research upgraded Brookfield Business from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.38.

Brookfield Business Stock Down 3.5%

Shares of NYSE BBUC opened at $31.74 on Tuesday. Brookfield Business has a 1 year low of $27.76 and a 1 year high of $38.25. The firm’s 50-day moving average is $33.34 and its 200-day moving average is $34.30. The company has a current ratio of 1.43, a quick ratio of 1.19 and a debt-to-equity ratio of 2.78. The firm has a market capitalization of $6.57 billion, a PE ratio of -70.53 and a beta of 1.24.

Brookfield Business (NYSE:BBUC) last posted its quarterly earnings results on Friday, May 8th. The company reported $999.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $997.69. Brookfield Business had a net margin of 1.28% and a return on equity of 2.33%. The business had revenue of $6.44 billion during the quarter. Equities analysts expect that Brookfield Business will post 5.54 EPS for the current year.

Institutional Trading of Brookfield Business

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in Brookfield Business by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 297,267 shares of the company’s stock worth $10,661,000 after acquiring an additional 6,816 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Brookfield Business by 335.6% in the fourth quarter. Millennium Management LLC now owns 295,351 shares of the company’s stock worth $10,597,000 after acquiring an additional 227,555 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Brookfield Business by 12.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 159,459 shares of the company’s stock worth $5,712,000 after purchasing an additional 18,181 shares during the period. Cardinal Point Capital Management ULC lifted its holdings in shares of Brookfield Business by 4.6% during the 4th quarter. Cardinal Point Capital Management ULC now owns 119,133 shares of the company’s stock valued at $4,263,000 after purchasing an additional 5,255 shares in the last quarter. Finally, HRT Financial LP lifted its holdings in shares of Brookfield Business by 384.1% during the 4th quarter. HRT Financial LP now owns 74,225 shares of the company’s stock valued at $2,663,000 after purchasing an additional 58,891 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Company Profile

Brookfield Business (NYSE: BBUC) is a publicly traded operating company affiliated with the Brookfield group that focuses on owning and managing a portfolio of industrial and business services companies. The company’s model centers on acquiring established businesses and applying active operational oversight, capital investment and strategic management to improve performance and support long‑term growth.

Brookfield Business’s activities span a range of sectors within the industrial and services landscape, including manufacturing, industrial services, specialty distribution and business‑to‑business service providers.