Brookfield Business (NYSE:BBUC) Stock Gets Price Target Cut from National Bank Financial

Brookfield Business (NYSE:BBUC) had its target price decreased by National Bank Financial from $42.00 to $38.00 in a research report released on Wednesday,BayStreet reports. National Bank Financial currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. TD Cowen cut their price target on shares of Brookfield Business from $32.00 to $29.00 and set a “hold” rating for the company in a report on Monday, October 12th. Wall Street Zen lowered shares of Brookfield Business from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. RBC Dominion Securities decreased their price objective on Brookfield Business from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Scotiabank set a $40.50 price objective on Brookfield Business in a research report on Friday, July 24th. Finally, Royal Bank Of Canada lowered their price objective on Brookfield Business from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.17.

Brookfield Business Stock Down 0.2%

Shares of BBUC stock opened at $28.61 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.44 and a debt-to-equity ratio of 2.92. The firm’s 50-day moving average is $26.73 and its two-hundred day moving average is $31.28. Brookfield Business has a 12 month low of $24.80 and a 12 month high of $38.25.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BBUC. Sterling Capital Management LLC purchased a new stake in shares of Brookfield Business in the 3rd quarter valued at approximately $45,000. Signaturefd LLC purchased a new position in shares of Brookfield Business during the 3rd quarter worth approximately $81,000. ProShare Advisors LLC purchased a new position in shares of Brookfield Business during the 3rd quarter worth approximately $366,000. Public Employees Retirement System of Ohio increased 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 during the last quarter. Finally, Tidal Investments LLC acquired a new stake in Brookfield Business in the 2nd quarter valued at approximately $529,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

About Brookfield Business

Brookfield Business Corporation (NYSE: BBUC) is a publicly traded corporation that provides investors with an interest in the operations of Brookfield Business Partners, a global owner and operator of business services, infrastructure services and industrial companies. BBUC’s shares are designed to provide economic exposure substantially equivalent to units of Brookfield Business Partners L.P., while offering a corporate share structure.

Through its portfolio companies, Brookfield Business Partners is involved in essential and often service-oriented activities, including healthcare services, construction and infrastructure services, industrial operations, energy-related businesses and other business services.