Brookfield Business (NYSE:BBUC) Hits New 1-Year Low – Here’s What Happened

Brookfield Business Corp (NYSE:BBUC) hit a new 52-week low during trading on Wednesday . The company traded as low as $26.93 and last traded at $26.85, with a volume of 3362 shares changing hands. The stock had previously closed at $27.13.

Analysts Set New Price Targets

A number of research firms have issued reports on BBUC. Scotiabank set a $40.50 price target on shares of Brookfield Business in a research report on Friday, July 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Brookfield Business in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Brookfield Business from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, TD Cowen lowered their price target on shares of Brookfield Business from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Tuesday, August 4th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $39.20.

Brookfield Business Stock Performance

The firm’s 50 day moving average is $29.47 and its 200-day moving average is $31.68. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of -67.55 and a beta of 1.25. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.22 and a current ratio of 1.44.

Brookfield Business (NYSE:BBUC) last released its quarterly earnings data on Friday, July 31st. The company reported $0.18 earnings per share 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 during the quarter. Analysts forecast that Brookfield Business Corp will post 5.31 earnings per share for the current fiscal year.

Brookfield Business Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Business’s dividend payout ratio (DPR) is presently -64.10%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company purchased a new position in shares of Brookfield Business during the 2nd quarter valued at approximately $2,283,000. Tidal Investments LLC acquired a new position in Brookfield Business during the second quarter worth $529,000. Citadel Advisors LLC acquired a new position in Brookfield Business during the second quarter worth $1,140,000. California State Teachers Retirement System purchased a new position in Brookfield Business during the second quarter valued at $859,000. Finally, TD Waterhouse Canada Inc. purchased a new position in Brookfield Business during the second quarter valued at $23,247,000. 85.04% of the stock is owned by institutional investors and hedge funds.

About Brookfield Business

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.