Brookfield Business (NYSE:BBUC) Hits New 12-Month Low – Here’s What Happened

Brookfield Business Corp (NYSE:BBUC)’s share price hit a new 52-week low 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.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BBUC shares. Royal Bank Of Canada lowered 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. TD Cowen lowered their price objective on shares of Brookfield Business from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. National Bank Financial cut their price target on Brookfield Business from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen cut shares of Brookfield Business from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. 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 given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.20.

Brookfield Business Trading Down 0.1%

The company has a market cap of $5.67 billion, a PE ratio of -70.32 and a beta of 1.26. 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 has a fifty day moving average of $30.09 and a two-hundred day moving average of $32.14.

Brookfield Business (NYSE:BBUC) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.18 EPS for the quarter. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. The company had revenue of $6.50 billion for the quarter. As a group, sell-side analysts predict that Brookfield Business Corp will post 5.31 EPS for the current year.

Brookfield Business Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Business’s dividend payout ratio is presently -64.10%.

Hedge Funds Weigh In On Brookfield Business

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in shares of Brookfield Business by 6.8% in the third quarter. Bank of America Corp DE now owns 52,377 shares of the company’s stock worth $1,756,000 after buying an additional 3,348 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Brookfield Business during the third quarter valued at $907,000. Strs Ohio bought a new position in Brookfield Business in the 4th quarter valued at approximately $431,000. Cardinal Point Capital Management ULC boosted 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 acquiring an additional 5,255 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in shares of Brookfield Business in the 4th quarter worth $323,000. Hedge funds and other institutional investors 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.