Brookfield Business (NYSE:BBUC) Issues Quarterly Earnings Results
by Renee Jackson · The Cerbat GemBrookfield Business (NYSE:BBUC – Get Free Report) announced its quarterly earnings results on Friday. The company reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $997.69, reports. Brookfield Business had a return on equity of 2.67% and a net margin of 1.41%.The company had revenue of $6.44 billion during the quarter.
Brookfield Business Stock Performance
NYSE:BBUC opened at $30.81 on Friday. The business’s 50-day simple moving average is $33.19. Brookfield Business has a 52 week low of $27.64 and a 52 week high of $38.25. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of -68.48 and a beta of 1.27. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 2.91.
Brookfield Business Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Business’s payout ratio is presently -40.00%.
Analyst Ratings Changes
A number of equities research analysts recently commented on BBUC shares. Zacks Research upgraded shares of Brookfield Business from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings downgraded shares of Brookfield Business from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday. Scotiabank boosted their price target on shares of Brookfield Business from $40.00 to $41.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen cut Brookfield Business from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $41.00.
View Our Latest Stock Report on BBUC
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its position in Brookfield Business by 7.1% in 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Brookfield Business by 7.9% during the 4th 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 during the period. Mariner LLC increased its position 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 during the period. Bank of America Corp DE grew its stake in shares of Brookfield Business by 6.8% in the third quarter. Bank of America Corp DE now owns 52,377 shares of the company’s stock worth $1,756,000 after purchasing an additional 3,348 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in 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 buying an additional 4,952 shares during the period. Institutional investors and hedge funds own 85.04% of the company’s stock.
Brookfield Business Company Profile
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.