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Corus Entertainment (OTCMKTS:CJREF – Get a rating) was the recipient of the sharp increase in short interest in September. As of September 15, the short interest totaled 4.0338 million shares, an increase of 113.0% from the 1.8937 million shares on August 31. Based on the average daily trading volume of 60,600 shares, the current daily coverage ratio is 66.6 days.
Wall Street analysts weigh in
Several analysts have recently released reports on the company. National Bank Financial downgraded Corus Entertainment to an “industry perform” rating from an “outperform” rating in a report on Sunday, September 11. TD Securities downgraded Corus Entertainment’s stock to a “buy” rating from an “action list buy” in a report on Tuesday, Sept. 13, and lowered its price target on the company to $5.00 from $6.50. Cormark downgraded Corus Entertainment’s stock from a “buy” rating to a “market perform” rating in a research note on Monday, Sept. 12. BMO Capital Markets lowered its price target on Corus Entertainment stock to C$5.00 from C$6.00 in a research note on Thursday, June 30. Finally, the CIBC downgraded Corus Entertainment to a “neutral” rating from an “outperform” rating in a report on Monday, September 12. Four investment analysts have hold ratings on the stock and three have buy ratings on the company. The company currently has an average “hold” rating and an average price target of $6.11, according to MarketBeat.com.
Corus Entertainment Price Performance
of shares Corus Entertainment Stock It was down 6 cents at $1.65 during Wednesday’s session. Volume for the stock was 165,427 shares, compared to the average volume of 28,009 shares. Corus Entertainment’s 52-week low was $1.63 and its 52-week high was $4.80. The company’s gearing ratio is 0.99, its current ratio is 0.84, and its quick ratio is 0.84. The business has a 50-day moving average of $2.66 and a 200-day moving average of $3.11. The company has a market capitalization of $325.3 million, a price-to-earnings ratio of 3.17, and a beta of 1.49.
Corus Entertainment (OTCMKTS:CJREF – Get a rating) last reported quarterly earnings results on Wednesday, June 29. The company reported earnings per share of $0.11 for the quarter. Revenue from this business for the quarter was $341.07 million. Corus Entertainment’s return on equity was 11.31% and its net profit margin was 8.77%.
Corus Entertainment cuts dividend
The company also recently announced a dividend, which will be paid on Thursday, September 29. Investors of record on Thursday, September 15 will receive a dividend of $0.0466 per share. This represents a dividend yield of 7.4%. The ex-dividend date is Wednesday, September 14th. Corus Entertainment’s current payout ratio is 33.33%.
About Corus Entertainment
Corus Entertainment Inc is a media and content company that operates professional and traditional television networks and radio stations in Canada and internationally. It is divided into two parts, TV and Radio. The Television segment operates 33 professional television networks and 15 traditional television stations.
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