Brookfield Business (NYSE:BBUC) Releases Earnings Results

Brookfield Business (NYSE:BBUC) announced its earnings results on Friday. The company reported $1.21 earnings per share (EPS) for the quarter, Zacks reports. Brookfield Business had a return on equity of 2.33% and a net margin of 1.28%.

Brookfield Business Stock Performance

BBUC traded down $1.84 on Friday, hitting $29.62. The company had a trading volume of 570,882 shares, compared to its average volume of 291,346. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of -65.82 and a beta of 1.25. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.43 and a quick ratio of 1.19. The company’s fifty day moving average price is $31.78 and its 200 day moving average price is $33.21. Brookfield Business has a 1-year low of $28.14 and a 1-year high of $38.25.

Brookfield Business Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued 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 0.8%. Brookfield Business’s dividend payout ratio is currently -55.56%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BBUC. Wall Street Zen upgraded Brookfield Business from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Royal Bank Of Canada decreased their target price on shares of Brookfield Business from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Canadian Imperial Bank of Commerce set a $41.50 price target on shares of Brookfield Business in a report on Monday, May 11th. Weiss Ratings lowered shares of Brookfield Business from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 8th. Finally, TD Cowen began coverage on shares of Brookfield Business in a research report on Tuesday, June 9th. They set a “hold” rating and a $34.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.60.

Institutional Investors Weigh In On Brookfield Business

Several hedge funds have recently modified their holdings of BBUC. Franklin Resources Inc. raised its position in shares of Brookfield Business by 7.1% during the fourth quarter. Franklin Resources Inc. now owns 7,302 shares of the company’s stock valued at $262,000 after buying an additional 482 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Brookfield Business by 7.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,587 shares of the company’s stock worth $488,000 after buying an additional 993 shares in the last quarter. Mariner LLC raised its holdings in Brookfield Business by 14.3% in the 4th quarter. Mariner LLC now owns 12,099 shares of the company’s stock valued at $434,000 after acquiring an additional 1,515 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Brookfield Business by 6.8% in the 3rd quarter. Bank of America Corp DE now owns 52,377 shares of the company’s stock worth $1,756,000 after acquiring an additional 3,348 shares during the period. Finally, TD Asset Management Inc grew its holdings in shares of Brookfield Business by 12.8% during the 4th quarter. TD Asset Management Inc now owns 43,597 shares of the company’s stock worth $1,560,000 after purchasing an additional 4,952 shares in the last quarter. 85.04% of the stock is owned by institutional investors.

About Brookfield Business

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.