Corus Entertainment (TSE:CJR.B) Shares Up 16.7% – Here’s What Happened

Corus Entertainment Inc. (TSE:CJR.B)’s share price was up 16.7% during mid-day trading on Friday . The company traded as high as C$0.04 and last traded at C$0.04. Approximately 573,236 shares traded hands during mid-day trading, an increase of 110% from the average daily volume of 272,559 shares. The stock had previously closed at C$0.03.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CJR.B. Royal Bank Of Canada reduced their target price on shares of Corus Entertainment from C$0.20 to C$0.15 and set a “sector perform” rating for the company in a report on Wednesday, October 29th. TD Securities decreased their target price on shares of Corus Entertainment from C$0.05 to C$0.01 and set a “sell” rating for the company in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Corus Entertainment presently has a consensus rating of “Reduce” and an average target price of C$0.08.

Corus Entertainment Stock Performance

The company has a debt-to-equity ratio of 254.56, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a fifty day simple moving average of C$0.04 and a two-hundred day simple moving average of C$0.06. The stock has a market cap of C$6.98 million, a price-to-earnings ratio of -0.02, a P/E/G ratio of -0.61 and a beta of 1.66.

Corus Entertainment (TSE:CJR.B) last announced its quarterly earnings results on Wednesday, January 14th. The company reported C($0.01) earnings per share (EPS) for the quarter. The company had revenue of C$267.57 million for the quarter. Corus Entertainment had a negative return on equity of 1,490.58% and a negative net margin of 51.98%. Analysts expect that Corus Entertainment Inc. will post 0.0540541 EPS for the current fiscal year.

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. The company generates the vast majority of its revenue in Canada.