Brookfield Business (NYSE:BBUC) Price Target Lowered to $40.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its price target on Brookfield Business from $44 to $40, while keeping an outperform rating. The new target still implies about 31% upside from the current share price.
• Analyst views are mixed overall: recent changes included upgrades and downgrades from other firms, leaving Brookfield Business with an average Hold rating and a consensus price target of $41.
• The stock was trading at $30.54 on Monday, below its 52-week high of $38.25, with the company reporting a recent quarterly revenue of $6.44 billion and a strong institutional ownership level of 85.04%.

Brookfield Business (NYSE:BBUC - Get Free Report) had its price objective decreased by Royal Bank Of Canada from $44.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 30.98% from the company's current price.

Several other analysts have also recently issued reports on the company. Zacks Research raised Brookfield Business from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 31st. Scotiabank reaffirmed an "outperform" rating on shares of Brookfield Business in a research note on Monday. Weiss Ratings lowered Brookfield Business from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday. Finally, Wall Street Zen lowered Brookfield Business from a "buy" rating to a "hold" rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $41.00.

Brookfield Business Stock Performance

Shares of NYSE:BBUC traded down $0.31 during midday trading on Monday, reaching $30.54. 25,173 shares of the company's stock traded hands, compared to its average volume of 176,411. The company has a market capitalization of $6.32 billion, a P/E ratio of -68.04 and a beta of 1.27. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 2.91. Brookfield Business has a one year low of $27.64 and a one year high of $38.25. The stock's 50 day moving average price is $33.19.

Brookfield Business (NYSE:BBUC - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $999.00 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $997.69. The company had revenue of $6.44 billion during the quarter. Brookfield Business had a return on equity of 2.37% and a net margin of 1.28%. Sell-side analysts predict that Brookfield Business will post 5.5 EPS for the current fiscal year.

Institutional Trading of Brookfield Business

Several large investors have recently added to or reduced their stakes in BBUC. Odyssean LLC acquired a new position in shares of Brookfield Business in the 4th quarter valued at about $469,000. Mariner LLC boosted its position in Brookfield Business by 14.3% during the fourth quarter. Mariner LLC now owns 12,099 shares of the company's stock worth $434,000 after purchasing an additional 1,515 shares in the last quarter. Susquehanna Advisors Group Inc. purchased a new position in Brookfield Business during the fourth quarter worth approximately $298,000. Squarepoint Ops LLC purchased a new position in Brookfield Business during the fourth quarter worth approximately $280,000. Finally, Franklin Resources Inc. boosted its position in Brookfield Business by 7.1% during the fourth quarter. Franklin Resources Inc. now owns 7,302 shares of the company's stock worth $262,000 after purchasing an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 85.04% of the company's stock.

Brookfield Business Company Profile

Brookfield Business NYSE: BBUC is a publicly traded operating company affiliated with the Brookfield group that focuses on owning and managing a portfolio of industrial and business services companies. The company’s model centers on acquiring established businesses and applying active operational oversight, capital investment and strategic management to improve performance and support long‑term growth.

Brookfield Business’s activities span a range of sectors within the industrial and services landscape, including manufacturing, industrial services, specialty distribution and business‑to‑business service providers.

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.