The Royal Bank of Canada cuts Corus Entertainment (TSE:CJR.B) price target to CAD$3.50

Corus Entertainment (TSE:CJR.B – Get Rating) Its price target was lowered from C$4.00 to C$3.50 by equity researchers at the Royal Bank of Canada in a research note issued to investors on Monday, reports BayStreet.CA. The brokerage currently has a sector perform rating on the stock. The Royal Bank of Canada price target would suggest a potential upside of 64.32% from the stock’s previous close.

A number of other equity analysts have also commented on CJR.B. Canaccord Genuity Group lowered its price target on Corus Entertainment from C$5.25 to C$4.25 in a research note on Monday, September 12. BMO Capital Markets lowered its target price on Corus Entertainment from C$5.00 to C$4.50 in a report on Monday, September 12. TD Securities downgraded Corus Entertainment from an “action list buy” rating to a “buy” rating in a report Tuesday, September 13, and lowered its price target on the stock to $5.00 from $6.50 C$. Cormark lowered its target price on Corus Entertainment to $3.75 from $5.30 and rated the stock as “Market Perform” in a report on Monday, September. Finally, Scotiabank set a price target of CAD$4.00 for Corus Entertainment and gave the stock a “Sector Perform” rating in a report on Wednesday October 12th. Five investment analysts have given a hold rating to the stock and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target of $4.50.

Corus Entertainment stock performance

CJR.B shares fell C$0.02 on Monday lunchtime to hit C$2.13. The stock had a trading volume of 761,055 shares compared to an average volume of 1,023,556. The stock has a market cap of $432.39 million and a P/E of 3.07. The company has a debt to equity ratio of 108.32, a quick ratio of 0.74 and a current ratio of 0.77. The company has a 50-day simple moving average of $2.94 and a 200-day simple moving average of $3.66. Corus Entertainment has a 52-week low of $1.93 and a 52-week high of $5.86.

Company profile of Corus Entertainment

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Corus Entertainment Inc, a media and content company, operates specialty and mainstream television and radio stations in Canada and internationally. It operates through two segments, television and radio. The Television segment operates 44 specialty television channels and 15 conventional television channels.

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Analyst Recommendations for Corus Entertainment (TSE:CJR.B)

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