Brookfield Business (NYSE:BBUC) Announces Quarterly Earnings Results

Brookfield Business (NYSE:BBUC) released its quarterly earnings data on Thursday. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $1.25 by ($1.16), Zacks reports. Brookfield Business had a return on equity of 2.05% and a net margin of 1.13%.

Brookfield Business Price Performance

BBUC stock traded down $0.72 during mid-day trading on Thursday, reaching $30.23. 834,016 shares of the company’s stock were exchanged, compared to its average volume of 353,633. 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 has a 12-month low of $24.80 and a 12-month high of $38.25. The stock’s 50 day moving average is $26.89 and its 200 day moving average is $31.17.

Brookfield Business Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, November 30th will be given a dividend of $0.0625 per share. The ex-dividend date is Monday, November 30th. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. Brookfield Business’s dividend payout ratio is currently -64.10%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BBUC shares. Royal Bank Of Canada dropped their price objective on shares of Brookfield Business from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Wall Street Zen cut shares of Brookfield Business from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. RBC Dominion Securities lowered their price target on shares of Brookfield Business from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Weiss Ratings upgraded shares of Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Finally, Scotiabank set a $40.50 price objective on shares of Brookfield Business in a report on Friday, July 24th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.17.

About Brookfield Business

Brookfield Business Corporation (NYSE: BBUC) is a publicly traded corporation that provides investors with an interest in the operations of Brookfield Business Partners, a global owner and operator of business services, infrastructure services and industrial companies. BBUC’s shares are designed to provide economic exposure substantially equivalent to units of Brookfield Business Partners L.P., while offering a corporate share structure.

Through its portfolio companies, Brookfield Business Partners is involved in essential and often service-oriented activities, including healthcare services, construction and infrastructure services, industrial operations, energy-related businesses and other business services.