Brookfield Business (NYSE:BBUC) Stock Price Target Cut by TD Cowen

Key Points

• TD Cowen lowered Brookfield Business’s price target from $32 to $29 and maintained a “Hold” rating, implying approximately 7.83% upside from the stock’s $26.89 price.
• Analyst sentiment remains mixed but leans neutral: three analysts rate BBUC a Buy, two a Hold, and one a Sell, producing an overall “Hold” consensus and average target of $38.60.
• Brookfield Business reported quarterly EPS of $0.18 on $6.50 billion in revenue, while institutional investors own a substantial 85.04% of the company’s outstanding shares.

Brookfield Business (NYSE:BBUC - Get Free Report) had its target price dropped by TD Cowen from $32.00 to $29.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "hold" rating on the stock. TD Cowen's price target points to a potential upside of 7.83% from the stock's current price.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Brookfield Business from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Weiss Ratings upgraded shares of Brookfield Business from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, September 25th. Finally, Scotiabank set a $40.50 price objective on shares of Brookfield Business in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Business presently has an average rating of "Hold" and an average target price of $38.60.

Brookfield Business Price Performance

NYSE:BBUC traded up $0.22 during trading hours on Monday, hitting $26.89. The company's stock had a trading volume of 52,571 shares, compared to its average volume of 300,296. The stock has a fifty day simple moving average of $27.32 and a 200-day simple moving average of $30.64. The company has a market capitalization of $5.53 billion, a P/E ratio of -68.96 and a beta of 1.33. 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 twelve month low of $24.80 and a twelve month high of $38.25.

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

Hedge Funds Weigh In On Brookfield Business

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Brookfield Business by 78.5% during the second 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 in the last quarter. Tidal Investments LLC bought a new stake in shares of Brookfield Business during the second quarter worth about $529,000. Hsbc Holdings PLC increased its stake in shares of Brookfield Business by 73.7% in the fourth quarter. Hsbc Holdings PLC now owns 33,914 shares of the company's stock valued at $1,211,000 after buying an additional 14,393 shares during the period. Citadel Advisors LLC acquired a new position in shares of Brookfield Business in the second quarter valued at approximately $1,140,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Brookfield Business in the second quarter valued at approximately $2,283,000. Institutional investors and hedge funds own 85.04% of the company's stock.

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.

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