Brookfield Business (NYSE:BBUC) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Brookfield Business (NYSE:BBUC) from a buy rating to a hold rating in a report published on Sunday morning.

Several other research firms have also issued reports on BBUC. National Bank Financial dropped their price target on Brookfield Business from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. TD Cowen initiated coverage on shares of Brookfield Business in a report on Tuesday, June 9th. They set a “hold” rating and a $34.00 target price on the stock. Scotiabank set a $40.50 price target on shares of Brookfield Business in a research report on Friday, July 24th. Canadian Imperial Bank of Commerce set a $41.50 price objective on shares of Brookfield Business in a research report on Monday, May 11th. Finally, Royal Bank Of Canada dropped their price objective on shares of Brookfield Business from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.20.

Brookfield Business Stock Down 0.3%

NYSE:BBUC opened at $30.98 on Friday. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.19 and a current ratio of 0.55. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -79.44 and a beta of 1.26. Brookfield Business has a one year low of $28.14 and a one year high of $38.25. The stock has a 50-day simple moving average of $31.59 and a 200 day simple moving average of $33.11.

Brookfield Business (NYSE:BBUC) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.18 earnings per share (EPS) for the quarter. Brookfield Business had a return on equity of 2.05% and a net margin of 1.13%.The firm had revenue of $6.50 billion for the quarter. Sell-side analysts predict that Brookfield Business will post 5.54 EPS for the current fiscal year.

Brookfield Business Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.25 annualized dividend and a yield of 0.8%. Brookfield Business’s payout ratio is presently -64.10%.

Hedge Funds Weigh In On Brookfield Business

Large investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its stake in shares of Brookfield Business by 335.6% in the 4th 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 during the period. HRT Financial LP raised its holdings in Brookfield Business by 384.1% during the fourth quarter. HRT Financial LP now owns 74,225 shares of the company’s stock worth $2,663,000 after purchasing an additional 58,891 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Brookfield Business in the fourth quarter worth approximately $1,655,000. Marshall Wace LLP acquired a new stake in Brookfield Business in the fourth quarter worth approximately $1,402,000. Finally, Qube Research & Technologies Ltd bought a new position in Brookfield Business during the 3rd quarter valued at $907,000. Institutional investors and hedge funds 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.