Brookfield Business (NYSE:BBUC) Stock Gets Price Target Reduction from TD Cowen

Brookfield Business (NYSE:BBUC) had its price objective trimmed by TD Cowen from $32.00 to $29.00 in a research note published on Monday,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research analysts have also recently commented on BBUC. Weiss Ratings upgraded Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Scotiabank set a $40.50 price objective on Brookfield Business in a report on Friday, July 24th. Finally, Wall Street Zen lowered Brookfield Business from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $38.60.

Brookfield Business Trading Down 2.1%

Shares of NYSE:BBUC opened at $26.15 on Monday. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.44 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $27.06 and a 200 day simple moving average of $30.52. Brookfield Business has a one year low of $24.80 and a one year high of $38.25.

Brookfield Business (NYSE:BBUC) last issued its earnings results on Friday, July 31st. The company reported $0.18 earnings per share for the quarter. The firm had revenue of $6.50 billion for the quarter. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. As a group, research analysts anticipate that Brookfield Business will post 5.31 EPS for the current fiscal year.

Brookfield Business Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, August 31st. Brookfield Business’s payout ratio is presently -64.10%.

Hedge Funds Weigh In On Brookfield Business

Several large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its stake in shares of Brookfield Business by 78.5% in the second quarter. Public Employees Retirement System of Ohio now owns 16,012 shares of the company’s stock worth $478,000 after purchasing an additional 7,044 shares during the last quarter. Tidal Investments LLC acquired a new stake in Brookfield Business in the second quarter valued at $529,000. Hsbc Holdings PLC increased its holdings in Brookfield Business by 73.7% in the fourth quarter. Hsbc Holdings PLC now owns 33,914 shares of the company’s stock valued at $1,211,000 after purchasing an additional 14,393 shares during the period. Citadel Advisors LLC acquired a new stake in Brookfield Business in the second quarter valued at $1,140,000. Finally, The Manufacturers Life Insurance Company bought a new position in Brookfield Business during the 2nd quarter worth $2,283,000. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Company Profile

Brookfield Business Corporation (NYSE: BBUC) is a publicly traded company that provides investors with an alternative way to participate in the operations of Brookfield Business Partners L.P. The corporation’s shares are designed to be economically equivalent to units of Brookfield Business Partners and are supported by the company’s portfolio of operating businesses.

Brookfield Business Partners and its affiliated businesses focus on owning and operating companies in sectors including business services, infrastructure services, healthcare and industrial operations.