Brookfield Business (NYSE:BBUC) Price Target Cut to $34.00 by Analysts at Royal Bank Of Canada

Brookfield Business (NYSE:BBUC) had its price objective cut by Royal Bank Of Canada from $40.00 to $34.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 29.61% from the stock’s previous close.

A number of other brokerages have also commented on BBUC. TD Cowen decreased their price target on shares of Brookfield Business from $32.00 to $29.00 and set a “hold” rating for the company in a research note on Monday. Weiss Ratings raised shares of Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Scotiabank set a $40.50 price objective on shares of Brookfield Business in a research note on Friday, July 24th. Finally, Wall Street Zen cut shares of Brookfield Business from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. 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 stock. Based on data from MarketBeat.com, Brookfield Business currently has a consensus rating of “Hold” and an average price target of $37.40.

Brookfield Business Stock Up 0.0%

Shares of NYSE BBUC traded up $0.01 during midday trading on Thursday, hitting $26.23. 12,498 shares of the stock traded hands, compared to its average volume of 299,392. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.22 and a current ratio of 1.44. Brookfield Business has a one year low of $24.80 and a one year high of $38.25. The business has a 50 day moving average price of $27.06 and a two-hundred day moving average price of $30.52. The company has a market cap of $5.39 billion, a PE ratio of -67.25 and a beta of 1.33.

Brookfield Business (NYSE:BBUC) last issued its earnings results on Friday, July 31st. The company reported $0.18 earnings per share (EPS) for the quarter. Brookfield Business had a return on equity of 2.05% and a net margin of 1.13%. The company had revenue of $6.50 billion for the quarter. On average, equities analysts predict that Brookfield Business will post 5.31 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. State Street Corp bought a new position in shares of Brookfield Business in the second quarter valued at approximately $29,617,000. The Manufacturers Life Insurance Company bought a new stake in Brookfield Business during the second quarter worth $2,283,000. Tidal Investments LLC bought a new stake in Brookfield Business during the second quarter worth $529,000. Citadel Advisors LLC bought a new stake in Brookfield Business during the second quarter worth $1,140,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in Brookfield Business in the 2nd quarter valued at $23,247,000. Institutional investors own 85.04% of the company’s stock.

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.