Brookfield Business (NYSE:BBUC) Issues Quarterly Earnings Results

Brookfield Business (NYSE:BBUC) released its quarterly earnings results on Thursday. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($1.16), Zacks reports. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%.

Brookfield Business Stock Performance

Brookfield Business stock traded down $0.72 during mid-day trading on Thursday, reaching $30.23. The company had a trading volume of 834,016 shares, compared to its average volume of 353,633. 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 has a 52 week low of $24.80 and a 52 week high of $38.25. The company has a 50 day moving average of $26.89 and a 200-day moving average of $31.17.

Brookfield Business Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, November 30th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, November 30th. Brookfield Business’s dividend payout ratio is presently -64.10%.

Analysts Set New Price Targets

Several research firms recently issued reports on BBUC. RBC Dominion Securities decreased their price objective on shares of Brookfield Business from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. TD Cowen dropped their price objective on Brookfield Business from $32.00 to $29.00 and set a “hold” rating on the stock in a research note on Monday, October 12th. National Bank Financial cut their price objective on Brookfield Business from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. Scotiabank set a $40.50 target price on Brookfield Business in a research note on Friday, July 24th. Finally, Wall Street Zen lowered Brookfield Business from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Four research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.17.

About Brookfield Business

Brookfield Business Corporation (NYSE: BBUC) is a publicly traded corporation that provides investors with an interest in the operations of Brookfield Business Partners, a global owner and operator of business services, infrastructure services and industrial companies. BBUC’s shares are designed to provide economic exposure substantially equivalent to units of Brookfield Business Partners L.P., while offering a corporate share structure.

Through its portfolio companies, Brookfield Business Partners is involved in essential and often service-oriented activities, including healthcare services, construction and infrastructure services, industrial operations, energy-related businesses and other business services.