Brookfield Business (NYSE:BBUC) Sets New 52-Week Low – Time to Sell?

Brookfield Business Corp (NYSE:BBUC)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $25.70 and last traded at $25.8850, with a volume of 360520 shares changing hands. The stock had previously closed at $26.41.

Wall Street Analysts Forecast Growth

BBUC has been the topic of several recent analyst reports. TD Cowen cut their price objective on shares of Brookfield Business from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Tuesday, August 4th. Scotiabank set a $40.50 target price on shares of Brookfield Business in a report on Friday, July 24th. Wall Street Zen lowered shares of Brookfield Business from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Brookfield Business in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.20.

Brookfield Business Stock Down 2.0%

The firm has a 50-day simple moving average of $29.27 and a 200 day simple moving average of $31.57. The company has a market capitalization of $5.36 billion, a PE ratio of -66.37 and a beta of 1.25. 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 issued its quarterly earnings data on Friday, July 31st. The company reported $0.18 EPS for the quarter. The firm had revenue of $6.50 billion for the quarter. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. On average, research analysts predict that Brookfield Business Corp will post 5.31 EPS for the current fiscal year.

Brookfield Business Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.0%. Brookfield Business’s dividend payout ratio (DPR) is presently -64.10%.

Institutional Trading of Brookfield Business

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in shares of Brookfield Business by 78.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,012 shares of the company’s stock valued at $478,000 after acquiring an additional 7,044 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Brookfield Business in the 4th quarter worth about $323,000. Hsbc Holdings PLC raised its holdings in shares of Brookfield Business by 73.7% during the fourth quarter. Hsbc Holdings PLC now owns 33,914 shares of the company’s stock valued at $1,211,000 after buying an additional 14,393 shares during the last quarter. Tidal Investments LLC bought a new stake in Brookfield Business during the 2nd quarter valued at $529,000. Finally, California State Teachers Retirement System bought a new stake in shares of Brookfield Business during the second quarter valued at about $859,000. 85.04% of the stock is owned by institutional investors.

About Brookfield Business

Brookfield Business Corporation (NYSE: BBUC) is a publicly traded holding company affiliated with Brookfield Asset Management. It owns and operates a diversified portfolio of businesses with a focus on essential services and industries that may benefit from long-term demand and operational improvement.

The company’s principal activities span business services, infrastructure services and industrial operations. Its investments have included healthcare services, residential mortgage insurance, construction and infrastructure-related services, and other industrial and service businesses.