Brookfield Business (NYSE:BBUC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Brookfield Business (NYSE:BBUC) from a hold rating to a buy rating in a research note published on Saturday.

Other research analysts have also recently issued reports about the company. Canadian Imperial Bank of Commerce set a $41.50 price target on Brookfield Business in a research note on Monday, May 11th. Zacks Research raised Brookfield Business from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Royal Bank Of Canada dropped their target price on Brookfield Business from $44.00 to $40.00 and set an “outperform” rating for the company in a research report 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, National Bank Financial lowered their price objective on Brookfield Business from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.60.

Brookfield Business Price Performance

Shares of NYSE:BBUC opened at $31.53 on Friday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of -70.07 and a beta of 1.25. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.43 and a quick ratio of 1.19. The firm has a 50 day simple moving average of $31.86 and a 200 day simple moving average of $33.27. Brookfield Business has a one year low of $28.29 and a one year high of $38.25.

Brookfield Business (NYSE:BBUC) last issued its earnings results on Friday, May 8th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($1.12). The company had revenue of $6.44 billion during the quarter. Brookfield Business had a net margin of 1.28% and a return on equity of 2.33%. Research analysts predict that Brookfield Business will post 5.54 earnings per share for the current fiscal year.

Brookfield Business Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Business’s dividend payout ratio (DPR) is currently -55.56%.

Institutional Investors Weigh In On Brookfield Business

A number of institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its position in shares of Brookfield Business by 73.7% during the fourth quarter. Hsbc Holdings PLC now owns 33,914 shares of the company’s stock worth $1,211,000 after acquiring an additional 14,393 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Brookfield Business by 68.4% in the fourth quarter. Mackenzie Financial Corp now owns 25,942 shares of the company’s stock valued at $931,000 after acquiring an additional 10,536 shares during the last quarter. Odyssean LLC bought a new stake in Brookfield Business in the fourth quarter valued at approximately $469,000. Millennium Management LLC increased its position in Brookfield Business by 335.6% during the 4th quarter. Millennium Management LLC now owns 295,351 shares of the company’s stock valued at $10,597,000 after purchasing an additional 227,555 shares during the period. Finally, AQR Capital Management LLC increased its position in Brookfield Business by 38.5% during the 4th quarter. AQR Capital Management LLC now owns 23,174 shares of the company’s stock valued at $831,000 after purchasing an additional 6,439 shares during the period. Institutional investors own 85.04% of the company’s stock.

About Brookfield Business

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.