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

Brookfield Business (NYSE:BBUC) had its price target upped by analysts at Scotiabank from $41.00 to $42.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 37.52% from the stock’s previous close.

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

Brookfield Business Trading Down 1.0%

NYSE:BBUC traded down $0.31 during mid-day trading on Monday, hitting $30.54. The stock had a trading volume of 25,173 shares, compared to its average volume of 176,411. The firm’s 50-day simple moving average is $33.19. The company has a market capitalization of $6.32 billion, a P/E ratio of -67.87 and a beta of 1.27. Brookfield Business has a twelve month low of $27.64 and a twelve month high of $38.25. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 2.91.

Brookfield Business (NYSE:BBUC) last issued its earnings results on Friday, May 8th. The company reported $999.00 earnings per share for the quarter, beating the consensus estimate of $1.31 by $997.69. The firm had revenue of $6.44 billion for the quarter. Brookfield Business had a net margin of 1.28% and a return on equity of 2.37%. Sell-side analysts predict that Brookfield Business will post 5.5 EPS for the current fiscal year.

Institutional Trading of Brookfield Business

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBUC. Bank of America Corp DE raised its holdings in Brookfield Business by 6.8% during the third quarter. Bank of America Corp DE now owns 52,377 shares of the company’s stock worth $1,756,000 after purchasing an additional 3,348 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Brookfield Business during the third quarter worth approximately $907,000. SG Americas Securities LLC acquired a new stake in Brookfield Business during the fourth quarter worth approximately $178,000. Signaturefd LLC increased its holdings in shares of Brookfield Business by 29.4% in the 4th quarter. Signaturefd LLC now owns 3,018 shares of the company’s stock valued at $108,000 after acquiring an additional 685 shares during the period. Finally, Strs Ohio acquired a new position in shares of Brookfield Business in the 4th quarter valued at $431,000. 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.