Corus Entertainment (TSE:CJR.B) Trading Down 38.5% After Analyst Downgrade

Shares of 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 4,629,367 shares changed hands during mid-day trading, an increase of 1,966% from the average daily volume of 224,072 shares. The stock had previously closed at C$0.07.

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

Corus Entertainment Stock Performance

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

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.