Brookfield Business Corp (NYSE:BBUC) Stock Has Consensus Target Price of $39.20 According to Brokerages

Brookfield Business Corp (NYSE:BBUC) has been assigned an average rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $39.20.

BBUC has been the topic of several research analyst reports. Weiss Ratings upgraded Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 25th. TD Cowen cut their price objective on Brookfield Business from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Scotiabank set a $40.50 target price on Brookfield Business in a report on Friday, July 24th. Finally, Wall Street Zen cut Brookfield Business from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd.

Brookfield Business Stock Up 0.1%

Shares of NYSE BBUC opened at $26.69 on Friday. The company’s 50-day simple moving average is $27.32 and its 200-day simple moving average is $30.64. Brookfield Business has a 52-week low of $24.80 and a 52-week high of $38.25. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of -68.43 and a beta of 1.33. The company has a quick ratio of 1.22, a current ratio of 1.44 and a debt-to-equity ratio of 2.92.

Brookfield Business (NYSE:BBUC) last released its quarterly 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 during the quarter. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. Equities analysts predict that Brookfield Business will post 5.31 EPS for the current fiscal year.

Brookfield Business Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were paid a $0.0625 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. Brookfield Business’s payout ratio is currently -64.10%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its holdings in Brookfield Business by 78.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,012 shares of the company’s stock valued at $478,000 after purchasing an additional 7,044 shares in the last quarter. Tidal Investments LLC acquired a new stake in Brookfield Business during the 2nd quarter worth $529,000. Hsbc Holdings PLC grew its holdings in shares of Brookfield Business by 73.7% during the fourth quarter. Hsbc Holdings PLC now owns 33,914 shares of the company’s stock worth $1,211,000 after buying an additional 14,393 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Brookfield Business during the second quarter worth $1,140,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Brookfield Business during the fourth quarter worth $1,655,000. 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 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.