Brookfield Business (NYSE:BBUC) Downgraded to Hold Rating by Wall Street Zen

Brookfield Business (NYSE:BBUC) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Several other equities analysts have also recently weighed in on BBUC. TD Cowen initiated coverage on Brookfield Business in a research note on Tuesday, June 9th. They set a “hold” rating and a $34.00 price objective on the stock. Canadian Imperial Bank of Commerce set a $41.50 price target on shares of Brookfield Business in a research report on Monday, May 11th. National Bank Financial reduced their price objective on shares of Brookfield Business from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. 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, Royal Bank Of Canada cut their target price on Brookfield Business from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Three analysts have rated the stock with a Buy rating, two have 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 a consensus rating of “Hold” and a consensus target price of $39.90.

Brookfield Business Trading Up 1.3%

NYSE:BBUC opened at $32.70 on Tuesday. Brookfield Business has a 12 month low of $27.81 and a 12 month high of $38.25. The company has a current ratio of 1.43, a quick ratio of 1.19 and a debt-to-equity ratio of 2.78. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of -72.67 and a beta of 1.24. The firm has a fifty day simple moving average of $33.29 and a two-hundred day simple moving average of $34.28.

Brookfield Business (NYSE:BBUC) last released its quarterly earnings data on Friday, May 8th. The company reported $999.00 EPS for the quarter, beating the consensus estimate of $1.31 by $997.69. The firm had revenue of $6.44 billion during the quarter. Brookfield Business had a return on equity of 2.33% and a net margin of 1.28%. Analysts expect that Brookfield Business will post 5.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Business

Large investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in 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 last quarter. HRT Financial LP raised its position in shares of Brookfield Business by 384.1% in the fourth quarter. HRT Financial LP now owns 74,225 shares of the company’s stock valued at $2,663,000 after purchasing an additional 58,891 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Brookfield Business during the 4th quarter valued at approximately $1,655,000. Marshall Wace LLP purchased a new position in Brookfield Business in the 4th quarter valued at approximately $1,402,000. Finally, Qube Research & Technologies Ltd bought a new stake in Brookfield Business during the 3rd quarter valued at $907,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

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.