Brookfield Business (NYSE:BBUC) Sets New 1-Year Low – Should You Sell?

Shares of Brookfield Business Corp (NYSE:BBUC) hit a new 52-week low on Tuesday. The stock traded as low as $24.80 and last traded at $24.9350, with a volume of 36616 shares traded. The stock had previously closed at $25.33.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BBUC shares. TD Cowen decreased their price target 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 price objective on shares of Brookfield Business in a research report on Friday, July 24th. Wall Street Zen cut shares of Brookfield Business from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Weiss Ratings raised shares of Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Brookfield Business currently has an average rating of “Hold” and an average target price of $39.20.

Brookfield Business Trading Up 1.0%

The stock has a 50-day moving average of $28.05 and a 200 day moving average of $30.86. 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 stock has a market cap of $5.28 billion, a PE ratio of -65.40 and a beta of 1.25.

Brookfield Business (NYSE:BBUC) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.18 EPS for the quarter. The business 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%. As a group, sell-side analysts anticipate that Brookfield Business Corp will post 5.31 earnings per share for the current year.

Brookfield Business Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, August 31st. Brookfield Business’s payout ratio is currently -64.10%.

Institutional Investors Weigh In On Brookfield Business

Several large investors have recently bought and sold shares of the company. State Street Corp purchased a new position in Brookfield Business in the 2nd quarter valued at $29,617,000. TD Waterhouse Canada Inc. purchased a new position in Brookfield Business in the 2nd quarter worth approximately $23,247,000. The Manufacturers Life Insurance Company acquired a new position in Brookfield Business during the second quarter worth $2,283,000. Los Angeles Capital Management LLC purchased a new position in shares of Brookfield Business during the 4th quarter worth $1,655,000. Finally, Citadel Advisors LLC acquired a new stake in Brookfield Business during the second quarter worth about $1,140,000. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

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.