Brookfield Business (NYSE:BBUC) Sets New 52-Week Low - Time to Sell?

Key Points

• Brookfield Business shares fell to a new 52-week low of $25.70, trading about 2% lower, with the stock below both its 50-day and 200-day moving averages.
• Analysts have a consensus “Hold” rating and an average price target of $39.20, although recent actions included a downgrade to Hold and a target reduction to $32.00.
• The company reported quarterly revenue of $6.50 billion and earnings of $0.18 per share, while announcing a quarterly dividend of $0.0625 per share, equivalent to a 1.0% annual yield.

Shares of Brookfield Business Corp (NYSE:BBUC - Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as $25.70 and last traded at $25.8850, with a volume of 360520 shares. The stock had previously closed at $26.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Scotiabank set a $40.50 price target on Brookfield Business in a report on Friday, July 24th. Weiss Ratings reiterated a "sell (d)" rating on shares of Brookfield Business in a research report on Wednesday, August 5th. Wall Street Zen lowered Brookfield Business from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, TD Cowen dropped their price target on Brookfield Business from $34.00 to $32.00 and set a "hold" rating for the company in a research report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.20.

Brookfield Business Stock Down 2.0%

The company has a market cap of $5.36 billion, a PE ratio of -66.37 and a beta of 1.25. 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 $29.27 and its 200-day simple moving average is $31.57.

Brookfield Business (NYSE:BBUC - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.18 earnings per share for the quarter. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. The business had revenue of $6.50 billion during the quarter. As a group, equities research analysts expect that Brookfield Business Corp will post 5.31 earnings per share for the current fiscal year.

Brookfield Business Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 yield of 1.0%. The ex-dividend date is Monday, August 31st. Brookfield Business's dividend payout ratio is -64.10%.

Hedge Funds Weigh In On Brookfield Business

A number of institutional investors have recently made changes to their positions in BBUC. TD Waterhouse Canada Inc. purchased a new stake in Brookfield Business during the 2nd quarter worth about $23,247,000. The Manufacturers Life Insurance Company acquired a new position in Brookfield Business in the 2nd quarter valued at about $2,283,000. Los Angeles Capital Management LLC purchased a new position in shares of Brookfield Business during the fourth quarter valued at approximately $1,655,000. Hsbc Holdings PLC grew its stake in Brookfield Business by 73.7% in the 4th 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 shares of Brookfield Business during the 2nd quarter worth $1,140,000. 85.04% of the stock is owned by institutional investors and hedge funds.

About Brookfield Business

Brookfield Business Corporation NYSE: BBUC is a publicly traded holding company affiliated with Brookfield Asset Management. It owns and operates a diversified portfolio of businesses with a focus on essential services and industries that may benefit from long-term demand and operational improvement.

The company's principal activities span business services, infrastructure services and industrial operations. Its investments have included healthcare services, residential mortgage insurance, construction and infrastructure-related services, and other industrial and service businesses.

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