Corus Entertainment (TSE:CJR.B) Shares Down 38.5% on Analyst Downgrade

Corus Entertainment Inc. (TSE:CJR.B) dropped 38.5% on Tuesday after TD Securities lowered their price target on the stock from C$0.05 to C$0.01. TD Securities currently has a sell rating on the stock. Corus Entertainment traded as low as C$0.03 and last traded at C$0.04. Approximately 3,027,267 shares traded hands during trading, an increase of 1,304% from the average daily volume of 215,693 shares. The stock had previously closed at C$0.07.

Separately, Royal Bank Of Canada reduced their price objective on Corus Entertainment from C$0.20 to C$0.15 and set a “sector perform” rating on the stock in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Corus Entertainment currently has a consensus rating of “Reduce” and a consensus target price of C$0.08.

Corus Entertainment Price Performance

The firm has a market cap of C$7.98 million, a price-to-earnings ratio of -0.02, a P/E/G ratio of -0.61 and a beta of 1.80. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 254.56. The company has a 50 day moving average of C$0.09 and a 200 day moving average of C$0.10.

About Corus Entertainment

Corus Entertainment Inc is a media and content company that operates in the diversified media industry. The company has two business segments, which includes television, and radio. The television business segment has a portfolio of television channels. The radio business segment controls a number of stations that cater to both the music, news, and talk radio markets.