Royal Bank Of Canada Issues Pessimistic Forecast for Brookfield Business (NYSE:BBUC) Stock Price

Key Points

• Royal Bank of Canada cut Brookfield Business’s price target from $40 to $34 while maintaining an “outperform” rating, implying roughly 29.6% upside from the $26.23 share price.
• Analyst sentiment is mixed: three analysts rate the stock Buy, two Hold, and one Sell. The consensus rating is “Hold,” with an average price target of $37.40.
• 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 shares.

Brookfield Business (NYSE:BBUC - Get Free Report) had its price objective cut by Royal Bank Of Canada from $40.00 to $34.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 29.61% from the stock's current price.

A number of other brokerages have also recently commented on BBUC. 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. Scotiabank set a $40.50 price objective on Brookfield Business in a research report on Friday, July 24th. TD Cowen lowered their price objective on Brookfield Business from $32.00 to $29.00 and set a "hold" rating for the company in a research report on Monday. Finally, Wall Street Zen downgraded Brookfield Business from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $37.40.

Brookfield Business Trading Up 0.0%

Brookfield Business stock traded up $0.01 during mid-day trading on Thursday, hitting $26.23. 12,498 shares of the stock were exchanged, compared to its average volume of 299,392. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of -67.25 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. The firm's fifty day simple moving average is $27.06 and its two-hundred day simple moving average is $30.52.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. State Street Corp acquired a new position in shares of Brookfield Business during the second quarter valued at about $29,617,000. The Manufacturers Life Insurance Company bought a new position in shares of Brookfield Business during the 2nd quarter worth about $2,283,000. Tidal Investments LLC acquired a new stake in shares of Brookfield Business in the 2nd quarter valued at about $529,000. Citadel Advisors LLC acquired a new stake in shares of Brookfield Business in the 2nd quarter valued at about $1,140,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Brookfield Business in the 2nd quarter valued at about $23,247,000. 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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