Brookfield Business (NYSE:BBUC) Reaches New 52-Week Low – Should You Sell?

Shares of Brookfield Business Corp (NYSE:BBUC) hit a new 52-week low on Wednesday . The stock traded as low as $28.00 and last traded at $28.1870, with a volume of 26627 shares. The stock had previously closed at $28.26.

Analysts Set New Price Targets

A number of research firms recently issued reports on BBUC. Canadian Imperial Bank of Commerce set a $41.50 target price on shares of Brookfield Business in a report on Monday, May 11th. Royal Bank Of Canada lowered their price objective 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, May 11th. National Bank Financial dropped their price objective on Brookfield Business from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Scotiabank set a $40.50 target price on Brookfield Business in a research report on Friday, July 24th. Finally, TD Cowen reduced their target price on Brookfield Business from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield Business currently has an average rating of “Hold” and a consensus price target of $39.20.

Brookfield Business Stock Down 0.5%

The firm’s 50-day moving average price is $30.48 and its 200-day moving average price is $32.38. The company has a market cap of $5.82 billion, a price-to-earnings ratio of -72.12 and a beta of 1.26. 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 posted its earnings results on Friday, July 31st. The company reported $0.18 earnings per share 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. Sell-side analysts forecast that Brookfield Business Corp will post 5.31 earnings per share for the current fiscal year.

Brookfield Business Announces Dividend

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

Institutional Investors Weigh In On Brookfield Business

Hedge funds have recently modified their holdings of the stock. TD Waterhouse Canada Inc. acquired a new position in Brookfield Business during the 2nd quarter worth approximately $23,247,000. Geode Capital Management LLC raised its stake in shares of Brookfield Business by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 297,267 shares of the company’s stock valued at $10,661,000 after purchasing an additional 6,816 shares during the period. Millennium Management LLC raised its stake 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 valued at $10,597,000 after purchasing an additional 227,555 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Brookfield Business by 12.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 159,459 shares of the company’s stock worth $5,712,000 after purchasing an additional 18,181 shares in the last quarter. Finally, Cardinal Point Capital Management ULC boosted its stake in shares of Brookfield Business by 4.6% in the fourth quarter. Cardinal Point Capital Management ULC now owns 119,133 shares of the company’s stock valued at $4,263,000 after purchasing an additional 5,255 shares during the period. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

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.