Brookfield Business (NYSE:BBUC) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Brookfield Business (NYSE:BBUC) from a hold rating to a buy rating in a research note released on Saturday.

BBUC has been the topic of a number of other reports. Zacks Research upgraded Brookfield Business from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Cowen initiated coverage on Brookfield Business in a research report on Tuesday, June 9th. They issued a “hold” rating and a $34.00 price objective for the company. National Bank Financial reduced their target price on Brookfield Business from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Weiss Ratings downgraded Brookfield Business from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce set a $41.50 target price on shares of Brookfield Business in a research report on Monday, May 11th. 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, Brookfield Business has a consensus rating of “Hold” and a consensus price target of $39.60.

Brookfield Business Price Performance

Shares of NYSE:BBUC opened at $31.10 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.43 and a debt-to-equity ratio of 2.78. The company has a market cap of $6.44 billion, a P/E ratio of -69.10 and a beta of 1.25. Brookfield Business has a 52 week low of $28.29 and a 52 week high of $38.25. The company has a 50-day moving average price of $31.90 and a 200 day moving average price of $33.34.

Brookfield Business (NYSE:BBUC) last released its earnings results on Friday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($1.12). The business had revenue of $6.44 billion for the quarter. Brookfield Business had a return on equity of 2.33% and a net margin of 1.28%. Research analysts predict that Brookfield Business will post 5.54 earnings per share for the current year.

Brookfield Business Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 29th. Brookfield Business’s dividend payout ratio (DPR) is presently -55.56%.

Institutional Investors Weigh In On Brookfield Business

Institutional investors have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings 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 during the last quarter. Signaturefd LLC grew its holdings in Brookfield Business by 29.4% in the fourth quarter. Signaturefd LLC now owns 3,018 shares of the company’s stock valued at $108,000 after purchasing an additional 685 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Brookfield Business by 7.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,587 shares of the company’s stock valued at $488,000 after purchasing an additional 993 shares during the last quarter. Mariner LLC increased its position in shares of Brookfield Business by 14.3% in the fourth quarter. Mariner LLC now owns 12,099 shares of the company’s stock valued at $434,000 after buying an additional 1,515 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Brookfield Business by 6.8% in the third quarter. Bank of America Corp DE now owns 52,377 shares of the company’s stock valued at $1,756,000 after buying an additional 3,348 shares in the last quarter. Hedge funds and other institutional investors own 85.04% of the company’s stock.

About Brookfield Business

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.