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

Corus Entertainment Inc. (TSE:CJR.B)’s stock price fell 38.5% during trading on Wednesday 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. 4,629,367 shares traded hands during mid-day trading, an increase of 1,966% from the average session volume of 224,072 shares. The stock had previously closed at C$0.07.

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

Corus Entertainment Stock Performance

The company’s fifty day simple moving average is C$0.09 and its 200 day simple moving average is C$0.09. 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 stock has a market capitalization of C$7.98 million, a P/E ratio of -0.02, a P/E/G ratio of -0.61 and a beta of 1.88.

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.