19:08:26 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Corus Entertainment Inc
Symbol CJR
Shares Issued 196,873,632
Close 2022-10-13 C$ 2.24
Market Cap C$ 440,996,936
Recent Sedar Documents

Globe says Yaghi rates Corus "buy" in new coverage

2022-10-13 07:50 ET - In the News

The Globe and Mail reports in its Thursday, Oct. 13, edition that Scotia Capital analyst Maher Yaghi has started coverage on Corus Entertainment with a "sector perform" recommendation and a $4 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the Class B shares at $4.06. Mr. Yaghi says Corus is "going through a rough patch." He expects the "erosion" of traditional television viewership to continue. Mr. Yaghi also expects radio to endure a "fragmentation and movement of listenership to on-line." Mr. Yaghi says in a note: "The combination of a weakening economy and tight supply chain for some of the company's customers has caused management to recently guide down expectations for the upcoming Q4 results on reduced advertising revenues. Since then, estimates have been significantly revised down and the stock is being punished on fears this warning could be a prelude to more pain down the road. We expect the pressure from the continued increase in Cord Nevers and lower viewership from existing cable subscribers to exert pressure on traditional broadcasting business models." The Globe reported on July 4 that Canaccord rated Corus "buy." It was then worth $3.53.

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