Brookfield Business (NYSE:BBUC) Hits New 52-Week Low – What’s Next?

Brookfield Business Corp (NYSE:BBUC)’s share price reached a new 52-week low on Wednesday . The company traded as low as $26.93 and last traded at $26.85, with a volume of 3362 shares changing hands. The stock had previously closed at $27.13.

Analyst Upgrades and Downgrades

BBUC has been the subject of a number of analyst reports. National Bank Financial reduced their price objective on shares of Brookfield Business from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Brookfield Business in a research note on Wednesday, August 5th. Wall Street Zen cut Brookfield Business from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. TD Cowen decreased their target price on Brookfield Business from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Finally, Scotiabank set a $40.50 target price on Brookfield Business in a research note on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.20.

Brookfield Business Trading Down 1.6%

The company has a current ratio of 1.44, a quick ratio of 1.22 and a debt-to-equity ratio of 2.92. The stock has a market capitalization of $5.53 billion, a P/E ratio of -68.39 and a beta of 1.25. The business’s fifty day simple moving average is $29.63 and its two-hundred day simple moving average is $31.81.

Brookfield Business (NYSE:BBUC) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.18 EPS 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, analysts forecast that Brookfield Business Corp will post 5.31 earnings per share for the current year.

Brookfield Business Dividend Announcement

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

Institutional Trading of Brookfield Business

Institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. bought a new stake in shares of Brookfield Business during the second quarter valued at approximately $23,247,000. Geode Capital Management LLC boosted its stake in Brookfield Business by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 297,267 shares of the company’s stock worth $10,661,000 after buying an additional 6,816 shares in the last quarter. Millennium Management LLC boosted its stake in 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 buying an additional 227,555 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Brookfield Business by 12.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 159,459 shares of the company’s stock valued at $5,712,000 after buying an additional 18,181 shares during the period. Finally, Cardinal Point Capital Management ULC raised its stake in shares of Brookfield Business by 4.6% in the 4th quarter. Cardinal Point Capital Management ULC now owns 119,133 shares of the company’s stock valued at $4,263,000 after buying an additional 5,255 shares in the last quarter. Institutional investors and hedge funds 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.