Brookfield Business (NYSE:BBUC) Sets New 1-Year Low - Time to Sell?

Key Points

• Brookfield Business shares fell to a new 52-week low of $28.11, below both their 50-day moving average of $30.80 and 200-day moving average of $32.60.
• Analyst sentiment is mixed, with three Buy, two Hold and one Sell rating; the consensus rating is Hold and the average price target is $39.20, substantially above the current price.
• The company reported quarterly revenue of $6.50 billion and EPS of $0.18, while declaring a $0.0625 quarterly dividend yielding about 0.9%. Institutional investors own approximately 85% of the stock.

Brookfield Business Corp (NYSE:BBUC - Get Free Report)'s stock price hit a new 52-week low on Thursday . The stock traded as low as $28.11 and last traded at $28.22, with a volume of 152858 shares changing hands. The stock had previously closed at $28.92.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BBUC shares. Canadian Imperial Bank of Commerce set a $41.50 price target on Brookfield Business in a research note on Monday, May 11th. Weiss Ratings restated a "sell (d)" rating on shares of Brookfield Business in a research report on Wednesday, August 5th. Scotiabank set a $40.50 target price on Brookfield Business in a report on Friday, July 24th. National Bank Financial decreased their price objective on Brookfield Business from $44.00 to $42.00 and set an "outperform" rating for the company in a research report on Tuesday, May 12th. Finally, Wall Street Zen downgraded Brookfield Business from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Brookfield Business has an average rating of "Hold" and a consensus target price of $39.20.

Brookfield Business Price Performance

The company's 50-day moving average is $30.80 and its two-hundred day moving average is $32.60. The firm has a market cap of $5.86 billion, a P/E ratio of -72.62 and a beta of 1.26. 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 (NYSE:BBUC - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.18 earnings per share (EPS) for the quarter. The company 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%. Sell-side analysts anticipate that Brookfield Business Corp will post 5.31 EPS for the current fiscal year.

Brookfield Business Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, August 31st. Brookfield Business's payout ratio is -64.10%.

Hedge Funds Weigh In On Brookfield Business

Several hedge funds and other institutional investors have recently bought and sold shares of BBUC. Los Angeles Capital Management LLC acquired a new position in shares of Brookfield Business in the 4th quarter valued at about $1,655,000. Squarepoint Ops LLC acquired a new stake in Brookfield Business in the fourth quarter worth $280,000. AQR Capital Management LLC raised its holdings in shares of Brookfield Business by 38.5% during the fourth quarter. AQR Capital Management LLC now owns 23,174 shares of the company's stock valued at $831,000 after purchasing an additional 6,439 shares during the period. Millennium Management LLC raised its holdings in shares of Brookfield Business by 335.6% during the fourth quarter. Millennium Management LLC now owns 295,351 shares of the company's stock valued at $10,597,000 after purchasing an additional 227,555 shares during the period. Finally, HRT Financial LP grew its stake in shares of Brookfield Business by 384.1% in the 4th quarter. HRT Financial LP now owns 74,225 shares of the company's stock valued at $2,663,000 after buying an additional 58,891 shares during the period. Institutional investors and hedge funds 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source