Brookfield Business (NYSE:BBUC) Posts Quarterly Earnings Results, Misses Estimates By $1.16 EPS

Brookfield Business (NYSE:BBUC) released its earnings results on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($1.16), Zacks reports. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%.

Brookfield Business Stock Down 2.3%

NYSE:BBUC traded down $0.72 during mid-day trading on Thursday, hitting $30.23. The company’s stock had a trading volume of 834,016 shares, compared to its average volume of 353,633. The business’s fifty day moving average is $26.89 and its two-hundred day moving average is $31.17. 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 has a 1 year low of $24.80 and a 1 year high of $38.25.

Brookfield Business Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, November 30th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, November 30th. Brookfield Business’s dividend payout ratio is presently -64.10%.

Wall Street Analyst Weigh In

BBUC has been the topic of a number of research reports. Wall Street Zen lowered Brookfield Business from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. TD Cowen reduced their price objective on Brookfield Business from $32.00 to $29.00 and set a “hold” rating for the company in a research note on Monday, October 12th. Royal Bank Of Canada decreased their target price on Brookfield Business from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. National Bank Financial decreased their target price on Brookfield Business from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, October 28th. Finally, Scotiabank set a $40.50 target price on Brookfield Business in a research report on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Brookfield Business currently has an average rating of “Hold” and an average target price of $36.17.

Brookfield Business Company Profile

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.