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

Shares of Corus Entertainment Inc. (TSE:CJR.B) were down 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. Approximately 4,629,367 shares traded 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 lowered 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 research note on Wednesday, October 29th. One investment 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, the stock currently has an average rating of “Reduce” and an average price target of C$0.08.

Corus Entertainment Price Performance

The company has a debt-to-equity ratio of 254.56, a current ratio of 0.69 and a quick ratio of 0.70. The stock’s fifty day moving average price is C$0.09 and its 200-day moving average price is C$0.09. The firm 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 1.88.

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.