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

Key Points

• National Bank Financial lowered Brookfield Business’s price target to $38 from $42 while maintaining an “outperform” rating, implying 35.67% upside from the prior close.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a consensus price target of $36.17, with four Buy, two Hold, and one Sell rating.
• BBUC traded at $28.01, with shares down from a 12-month high of $38.25; institutional investors own approximately 85.04% of the company.

Brookfield Business (NYSE:BBUC - Get Free Report) had its price objective reduced by stock analysts at National Bank Financial from $42.00 to $38.00 in a research note issued to investors on Wednesday, BayStreet reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's price objective suggests a potential upside of 35.67% from the company's previous close.

Several other research analysts have also recently weighed in on BBUC. Wall Street Zen cut shares of Brookfield Business from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Scotiabank set a $40.50 price objective on Brookfield Business in a research note on Friday, July 24th. TD Cowen reduced their target price on Brookfield Business from $32.00 to $29.00 and set a "hold" rating for the company in a research report on Monday, October 12th. Weiss Ratings upgraded Brookfield Business from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, September 25th. Finally, RBC Dominion Securities lowered their price target on Brookfield Business from $40.00 to $34.00 and set an "outperform" rating on the stock in a report on Thursday, October 15th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Brookfield Business currently has an average rating of "Hold" and a consensus price target of $36.17.

Brookfield Business Price Performance

NYSE:BBUC traded up $0.18 during mid-day trading on Wednesday, hitting $28.01. 187,014 shares of the stock traded hands, compared to its average volume of 299,787. The business's 50-day moving average price is $26.73 and its 200 day moving average price is $31.37. The company has a market cap of $5.75 billion, a PE ratio of -71.61 and a beta of 1.33. Brookfield Business has a 12-month low of $24.80 and a 12-month high of $38.25. The company has a quick ratio of 1.22, a current ratio of 1.44 and a debt-to-equity ratio of 2.92.

Brookfield Business (NYSE:BBUC - Get Free Report) 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 business had revenue of $6.50 billion for the quarter. On average, analysts expect that Brookfield Business will post 5.31 EPS for the current fiscal year.

Institutional Trading of Brookfield Business

Hedge funds have recently bought and sold shares of the company. State Street Corp bought a new position in Brookfield Business during the second quarter valued at approximately $29,617,000. TD Waterhouse Canada Inc. bought a new stake in shares of Brookfield Business in the 2nd quarter worth approximately $23,247,000. Cardinal Point Capital Management ULC lifted its holdings in shares of Brookfield Business by 0.6% in the 3rd quarter. Cardinal Point Capital Management ULC now owns 357,043 shares of the company's stock worth $9,112,000 after acquiring an additional 2,073 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Brookfield Business in the 2nd quarter valued at $2,283,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Brookfield Business by 73.7% in the 4th quarter. Hsbc Holdings PLC now owns 33,914 shares of the company's stock valued at $1,211,000 after purchasing an additional 14,393 shares in the last quarter. 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.

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