Brookfield Business (NYSE:BBUC) Price Target Cut to $29.00 by Analysts at TD Cowen

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

Other analysts also recently issued research reports about the company. Scotiabank set a $40.50 target price on Brookfield Business in a research report on Friday, July 24th. Weiss Ratings upgraded Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 25th. Finally, Wall Street Zen cut Brookfield Business from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Brookfield Business presently has a consensus rating of “Hold” and an average price target of $38.60.

Brookfield Business Stock Up 0.7%

Shares of BBUC stock opened at $26.87 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.22 and a debt-to-equity ratio of 2.92. Brookfield Business has a 1 year low of $24.80 and a 1 year high of $38.25. The firm’s fifty day moving average price is $27.24 and its two-hundred day moving average price is $30.61. The firm has a market capitalization of $5.52 billion, a P/E ratio of -68.89 and a beta of 1.33.

Brookfield Business (NYSE:BBUC) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.18 EPS for the quarter. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. The firm had revenue of $6.50 billion for the quarter. On average, equities analysts predict 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. Investors of record on Monday, August 31st were issued a dividend of $0.0625 per share. 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 presently -64.10%.

Institutional Investors Weigh In On Brookfield Business

Hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new position in shares of Brookfield Business in the second quarter valued at $1,140,000. The Manufacturers Life Insurance Company bought a new position in shares of Brookfield Business in the second quarter valued at about $2,283,000. TD Waterhouse Canada Inc. bought a new position in shares of Brookfield Business in the second quarter valued at about $23,247,000. State Street Corp acquired a new stake in shares of Brookfield Business during the 2nd quarter worth about $29,617,000. Finally, Tidal Investments LLC acquired a new stake in shares of Brookfield Business during the 2nd quarter worth about $529,000. Institutional investors and hedge funds 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.