Brookfield Business (NYSE:BBUC) Releases Quarterly Earnings Results

Brookfield Business (NYSE:BBUC) announced its earnings results on Friday. The company reported $1.21 earnings per share (EPS) for the quarter, Zacks reports. Brookfield Business had a return on equity of 2.33% and a net margin of 1.28%.

Brookfield Business Price Performance

Shares of BBUC stock traded down $1.84 during midday trading on Friday, reaching $29.62. 570,882 shares of the company were exchanged, compared to its average volume of 291,346. The company’s 50 day moving average price is $31.78 and its two-hundred day moving average price is $33.21. The company has a market cap of $6.13 billion, a P/E ratio of -65.82 and a beta of 1.25. Brookfield Business has a 12 month low of $28.14 and a 12 month high of $38.25. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.19 and a current ratio of 1.43.

Brookfield Business Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Brookfield Business’s payout ratio is -55.56%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BBUC. Wall Street Zen upgraded shares of Brookfield Business from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings downgraded shares of Brookfield Business from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 8th. National Bank Financial dropped their price objective on shares of Brookfield Business from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. TD Cowen initiated coverage on Brookfield Business in a research note on Tuesday, June 9th. They issued a “hold” rating and a $34.00 target price for the company. Finally, 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 report on Monday, May 11th. Three 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.60.

Institutional Investors Weigh In On Brookfield Business

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Brookfield Business by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 297,267 shares of the company’s stock valued at $10,661,000 after acquiring an additional 6,816 shares during the last quarter. Millennium Management LLC grew 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 purchasing an additional 227,555 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Brookfield Business by 12.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,459 shares of the company’s stock worth $5,712,000 after purchasing an additional 18,181 shares in the last quarter. HRT Financial LP raised its holdings in shares of Brookfield Business by 384.1% in the 4th 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. Finally, Barclays PLC lifted its stake in Brookfield Business by 15.4% during the fourth quarter. Barclays PLC now owns 65,506 shares of the company’s stock valued at $2,350,000 after purchasing an additional 8,760 shares during the last quarter. Institutional investors 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.