Brookfield Business (NYSE:BBUC) Reaches New 52-Week Low – Here’s What Happened

Brookfield Business Corp (NYSE:BBUC)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $28.00 and last traded at $28.1870, with a volume of 26627 shares traded. The stock had previously closed at $28.26.

Analysts Set New Price Targets

A number of brokerages have issued reports on BBUC. National Bank Financial lowered their price objective on Brookfield Business from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Scotiabank set a $40.50 target price on Brookfield Business in a research note on Friday, July 24th. Wall Street Zen downgraded Brookfield Business from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Royal Bank Of Canada lowered their price target on Brookfield Business from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce set a $41.50 price target on shares of Brookfield Business in a research note on Monday, May 11th. Three equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.20.

Brookfield Business Stock Down 1.0%

The company has a market cap of $5.78 billion, a P/E ratio of -71.58 and a beta of 1.26. The company’s 50-day moving average is $30.30 and its two-hundred day moving average is $32.27. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.44 and a quick ratio of 1.22.

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

Brookfield Business Dividend Announcement

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

Institutional Investors Weigh In On Brookfield Business

Large investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. purchased a new position in Brookfield Business in the 2nd quarter worth about $23,247,000. Geode Capital Management LLC boosted its holdings in shares of Brookfield Business by 2.3% during 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 fourth quarter. Millennium Management LLC now owns 295,351 shares of the company’s stock worth $10,597,000 after acquiring an additional 227,555 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Brookfield Business by 12.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 159,459 shares of the company’s stock worth $5,712,000 after acquiring an additional 18,181 shares during the period. Finally, Cardinal Point Capital Management ULC raised its holdings in shares of Brookfield Business by 4.6% during the fourth quarter. Cardinal Point Capital Management ULC now owns 119,133 shares of the company’s stock valued at $4,263,000 after purchasing an additional 5,255 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Company Profile

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.