Brookfield Business (NYSE:BBUC) Stock Price Target Lowered at RBC Dominion Securities

Key Points

• RBC Dominion Securities lowered Brookfield Business’s price target from $40 to $34 while maintaining an “outperform” rating, implying approximately 28% upside from the $26.55 share price.
• Analyst sentiment is mixed: Brookfield Business has a consensus “Hold” rating and an average price target of $36.83, based on four Buy, two Hold, and one Sell rating.
• The stock trades well below its 52-week high of $38.25 and has a market capitalization of about $5.45 billion; institutional investors and hedge funds own approximately 85.04% of outstanding shares.

Brookfield Business (NYSE:BBUC - Get Free Report) had its price target dropped by stock analysts at RBC Dominion Securities from $40.00 to $34.00 in a report released on Thursday, BayStreet reports. The firm presently has an "outperform" rating on the stock. RBC Dominion Securities' target price suggests a potential upside of 28.06% from the company's current price.

A number of other equities research analysts have also issued reports on BBUC. Royal Bank Of Canada dropped their target price on shares of Brookfield Business from $40.00 to $34.00 and set an "outperform" rating for the company in a report on Thursday. TD Cowen reduced their target price on shares of Brookfield Business from $32.00 to $29.00 and set a "hold" rating for the company in a research report on Monday. Weiss Ratings raised shares of Brookfield Business from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, September 25th. Wall Street Zen lowered shares of Brookfield Business from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Scotiabank set a $40.50 price target on shares of Brookfield Business in a research report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Brookfield Business currently has a consensus rating of "Hold" and a consensus target price of $36.83.

Brookfield Business Price Performance

Shares of BBUC traded up $0.33 during mid-day trading on Thursday, hitting $26.55. 127,802 shares of the company were exchanged, compared to its average volume of 299,992. Brookfield Business has a 1-year low of $24.80 and a 1-year high of $38.25. The company has a 50 day moving average of $27.06 and a 200-day moving average of $30.52. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.22 and a current ratio of 1.44. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of -67.99 and a beta of 1.33.

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

Institutional Investors Weigh In On Brookfield Business

Institutional investors have recently modified their holdings of the company. State Street Corp purchased a new position in Brookfield Business during the 2nd quarter valued at about $29,617,000. TD Waterhouse Canada Inc. purchased a new stake in Brookfield Business during the second quarter worth about $23,247,000. The Manufacturers Life Insurance Company acquired a new position in shares of Brookfield Business in the second quarter worth $2,283,000. Hsbc Holdings PLC increased its position in shares of Brookfield Business by 73.7% during the fourth quarter. Hsbc Holdings PLC now owns 33,914 shares of the company's stock worth $1,211,000 after acquiring an additional 14,393 shares during the period. Finally, Citadel Advisors LLC purchased a new position in Brookfield Business in the second quarter valued at $1,140,000. 85.04% of the stock is owned by institutional investors and hedge funds.

Brookfield Business Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.