Brookfield Business (NYSE:BBUC) Reaches New 12-Month Low – Should You Sell?

Shares of Brookfield Business Corp (NYSE:BBUC) reached a new 52-week low on Monday . The stock traded as low as $25.14 and last traded at $25.9250, with a volume of 610138 shares changing hands. The stock had previously closed at $25.70.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BBUC. Wall Street Zen cut Brookfield Business from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. TD Cowen decreased their price target on Brookfield Business from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Brookfield Business in a research report on Wednesday, August 5th. Finally, Scotiabank set a $40.50 price objective on Brookfield Business in a research note on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $39.20.

Brookfield Business Stock Down 0.1%

The stock has a market capitalization of $5.31 billion, a P/E ratio of -65.86 and a beta of 1.25. The company has a current ratio of 1.44, a quick ratio of 1.22 and a debt-to-equity ratio of 2.92. The firm’s fifty day moving average is $28.90 and its 200-day moving average is $31.30.

Brookfield Business (NYSE:BBUC) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.18 earnings per share for the quarter. The firm 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 research analysts predict that Brookfield Business Corp will post 5.31 earnings per share for the current year.

Brookfield Business Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Business’s payout ratio is presently -64.10%.

Institutional Investors Weigh In On Brookfield Business

A number of hedge funds and other institutional investors have recently bought and sold shares of BBUC. The Manufacturers Life Insurance Company acquired a new position in Brookfield Business in the second quarter worth $2,283,000. Tidal Investments LLC acquired a new stake in shares of Brookfield Business in the second quarter valued at $529,000. Citadel Advisors LLC acquired a new stake in shares of Brookfield Business in the second quarter valued at $1,140,000. TD Waterhouse Canada Inc. bought a new position in shares of Brookfield Business in the second quarter valued at about $23,247,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Brookfield Business by 78.5% in the second quarter. Public Employees Retirement System of Ohio now owns 16,012 shares of the company’s stock valued at $478,000 after buying an additional 7,044 shares during the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

Brookfield Business Company Profile

Brookfield Business Corporation (NYSE: BBUC) is a publicly traded holding company affiliated with Brookfield Asset Management. It owns and operates a diversified portfolio of businesses with a focus on essential services and industries that may benefit from long-term demand and operational improvement.

The company’s principal activities span business services, infrastructure services and industrial operations. Its investments have included healthcare services, residential mortgage insurance, construction and infrastructure-related services, and other industrial and service businesses.