Brookfield Business (NYSE:BBUC) Stock Price Target Lowered at RBC Dominion Securities

Brookfield Business (NYSE:BBUC) had its price target dropped by stock analysts at RBC Dominion Securities from $40.00 to $34.00 in a note issued to investors on Thursday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. RBC Dominion Securities’ price objective would indicate a potential upside of 28.06% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Royal Bank Of Canada decreased their target price on shares of Brookfield Business from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday. Weiss Ratings upgraded Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. TD Cowen reduced their price objective on Brookfield Business from $32.00 to $29.00 and set a “hold” rating for the company in a research note on Monday. Scotiabank set a $40.50 price objective on Brookfield Business in a research report on Friday, July 24th. Finally, Wall Street Zen cut Brookfield Business from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Four 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 company has an average rating of “Hold” and an average target price of $36.83.

Brookfield Business Stock Up 1.3%

Shares of Brookfield Business stock traded up $0.33 during trading on Thursday, hitting $26.55. 127,802 shares of the stock were exchanged, compared to its average volume of 299,992. The firm’s 50-day moving average price is $27.06 and its 200 day moving average price is $30.52. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of -67.99 and a beta of 1.33. Brookfield Business has a 12-month low of $24.80 and a 12-month high of $38.25. 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) last announced its earnings results on Friday, July 31st. The company reported $0.18 earnings per share (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 for the quarter. As a group, analysts forecast that Brookfield Business will post 5.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Business

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its stake in shares of Brookfield Business by 78.5% in the second quarter. Public Employees Retirement System of Ohio now owns 16,012 shares of the company’s stock valued at $478,000 after purchasing an additional 7,044 shares during the period. Tidal Investments LLC purchased a new stake in Brookfield Business during the second quarter worth about $529,000. Citadel Advisors LLC purchased a new stake in Brookfield Business during the second quarter worth about $1,140,000. Hsbc Holdings PLC grew its position in 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 buying an additional 14,393 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in Brookfield Business during the second quarter worth about $2,283,000. 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 company that provides investors with an alternative way to participate in the operations of Brookfield Business Partners L.P. The corporation’s shares are designed to be economically equivalent to units of Brookfield Business Partners and are supported by the company’s portfolio of operating businesses.

Brookfield Business Partners and its affiliated businesses focus on owning and operating companies in sectors including business services, infrastructure services, healthcare and industrial operations.