Scotiabank Increases Brookfield Business (NYSE:BBUC) Price Target to $42.00

Key Points

• Scotiabank raised its price target on Brookfield Business from $41 to $42 while keeping a sector outperform rating, implying about 37.5% upside from the prior close.
• Analyst sentiment remains mixed overall: recent actions included rating cuts from some firms, and MarketBeat data shows an average Hold rating with a consensus target price of $41.00.
• Brookfield Business shares fell to $30.54 on Monday, while the company’s latest earnings report and institutional buying activity highlight continued investor interest despite recent stock weakness.

Brookfield Business (NYSE:BBUC - Get Free Report) had its price objective upped by research analysts at Scotiabank from $41.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's price target would suggest a potential upside of 37.52% from the company's previous close.

Several other research analysts have also weighed in on the stock. Zacks Research raised shares of Brookfield Business from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 31st. Wall Street Zen lowered shares of Brookfield Business from a "buy" rating to a "hold" rating in a research note on Saturday. Royal Bank Of Canada lowered their target price on shares of Brookfield Business from $44.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday. Finally, Weiss Ratings lowered shares of Brookfield Business from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Brookfield Business has an average rating of "Hold" and an average target price of $41.00.

Brookfield Business Price Performance

Shares of BBUC traded down $0.31 during mid-day trading on Monday, reaching $30.54. The stock had a trading volume of 25,173 shares, compared to its average volume of 176,411. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.39 and a current ratio of 1.67. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of -67.87 and a beta of 1.27. The company has a fifty day moving average of $33.19. Brookfield Business has a 52-week low of $27.64 and a 52-week high of $38.25.

Brookfield Business (NYSE:BBUC - Get Free Report) last announced its earnings results on Friday, May 8th. The company reported $999.00 earnings per share for the quarter, topping the consensus estimate of $1.31 by $997.69. The company had revenue of $6.44 billion during the quarter. Brookfield Business had a net margin of 1.28% and a return on equity of 2.37%. As a group, sell-side analysts anticipate that Brookfield Business will post 5.5 EPS for the current fiscal year.

Institutional Trading of Brookfield Business

Several hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC lifted 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 purchasing an additional 14,393 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Brookfield Business by 68.4% during the fourth quarter. Mackenzie Financial Corp now owns 25,942 shares of the company's stock worth $931,000 after purchasing an additional 10,536 shares in the last quarter. Odyssean LLC acquired a new stake in shares of Brookfield Business during the fourth quarter worth about $469,000. Millennium Management LLC lifted its position 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 worth $10,597,000 after purchasing an additional 227,555 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position 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 worth $831,000 after purchasing an additional 6,439 shares in the last quarter. 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.

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