18:28:32 EDT Tue 23 Apr 2024
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Inv Reporter refreshes Corus Entertainment buy

2022-07-29 19:40 ET - In the News

The Investment Reporter, in its July 22, 2022, issue, refreshes its buy of Corus Entertainment Inc., recently $3.52. The Reporter said buy 15 times from Jan. 4, 2008, to Jan. 28, 2022, at prices ranging from $2.78 to $48.53 (the stock split 2 for 1 on Jan. 30, 2008). Assuming an investment of $1,000 for each of the 15 buys, the $15,000 position would now be worth $5,360. Corus is a Canadian mass media and broadcasting company formed in 1999 as a spinoff from Shaw Communications Inc., which has now sold its spun-off stake. In the third quarter ended May 31, 2022, Corus had revenue of $404.1-million, up from sales of $379.8-million in the same period of 2021. Despite the increase in revenue, profit dropped to $123.7-million from $130.3-million. The Reporter says that with the possibility of a recession occurring in the near term and a lack of a catalyst to spur the shares upward, the stock could remain deflated for awhile. Nonetheless, Corus currently trades at just 5.2 times the 68 cents a share that it is expected to earn in fiscal 2022. The company generates strong free cash flow, which it can reinvest in its business. The Reporter says buy Corus Entertainment.

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