Brookfield Business (NYSE:BBUC) Sets New 52-Week Low – Here’s Why

Brookfield Business Corp (NYSE:BBUC)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $27.11 and last traded at $27.1950, with a volume of 3948 shares. The stock had previously closed at $27.97.

Analysts Set New Price Targets

Several brokerages recently weighed in on BBUC. TD Cowen reduced their price target on shares of Brookfield Business from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce set a $41.50 price objective on Brookfield Business in a research report on Monday, May 11th. National Bank Financial reduced their target price on Brookfield Business from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Wall Street Zen cut Brookfield Business from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Royal Bank Of Canada lowered their price target on Brookfield Business from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Business presently has a consensus rating of “Hold” and a consensus price target of $39.20.

Brookfield Business Trading Up 0.7%

The company has a market capitalization of $5.63 billion, a P/E ratio of -69.76 and a beta of 1.26. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.22 and a current ratio of 1.44. The stock has a fifty day moving average of $29.87 and a 200 day moving average of $32.01.

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

Brookfield Business Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, August 31st. Brookfield Business’s dividend payout ratio is presently -64.10%.

Institutional Trading of Brookfield Business

Several institutional investors and hedge funds have recently modified their holdings of BBUC. Jump Financial LLC purchased a new position in shares of Brookfield Business during the 4th quarter valued at $240,000. Franklin Resources Inc. increased its stake in Brookfield Business by 7.1% in the 4th quarter. Franklin Resources Inc. now owns 7,302 shares of the company’s stock worth $262,000 after buying an additional 482 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Brookfield Business in the fourth quarter worth about $280,000. Susquehanna Advisors Group Inc. bought a new position in shares of Brookfield Business in the fourth quarter worth about $298,000. Finally, Handelsbanken Fonder AB bought a new position in shares of Brookfield Business in the fourth quarter worth about $323,000. 85.04% of the stock is currently owned by institutional investors.

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.