Brookfield Business (NYSE:BBUC) Reaches New 52-Week Low – Here’s What Happened

Brookfield Business Corp (NYSE:BBUC)’s share price reached a new 52-week low on Tuesday. The company traded as low as $24.80 and last traded at $24.9350, with a volume of 36616 shares traded. The stock had previously closed at $25.33.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BBUC shares. Wall Street Zen cut Brookfield Business from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Weiss Ratings raised Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Scotiabank set a $40.50 price objective on Brookfield Business in a report on Friday, July 24th. Finally, TD Cowen cut their price objective on Brookfield Business from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.20.

Brookfield Business Stock Down 1.5%

The firm has a market capitalization of $5.16 billion, a PE ratio of -63.96 and a beta of 1.25. The company has a fifty day simple moving average of $28.27 and a two-hundred day simple moving average of $30.95. 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 announced its quarterly earnings results on Friday, July 31st. The company reported $0.18 EPS for the quarter. The firm had revenue of $6.50 billion for the quarter. Brookfield Business had a return on equity of 2.05% and a net margin of 1.13%. Analysts forecast that Brookfield Business Corp will post 5.31 EPS for the current fiscal year.

Brookfield Business Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.0625 per share. The ex-dividend date is Monday, August 31st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.0%. Brookfield Business’s dividend payout ratio (DPR) is currently -64.10%.

Hedge Funds Weigh In On Brookfield Business

A number of large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its holdings in Brookfield Business by 78.5% during the second quarter. Public Employees Retirement System of Ohio now owns 16,012 shares of the company’s stock worth $478,000 after buying an additional 7,044 shares during the period. Tidal Investments LLC purchased a new position in shares of Brookfield Business in the 2nd quarter valued at $529,000. Citadel Advisors LLC purchased a new position in shares of Brookfield Business in the 2nd quarter valued at $1,140,000. Hsbc Holdings PLC raised its position in shares of Brookfield Business by 73.7% in the 4th 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 in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Brookfield Business in the 4th quarter worth $1,655,000. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Company Profile

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.