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

Shares of Corus Entertainment Inc. (TSE:CJR.B) dropped 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 changed hands during 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 dropped their price target on Corus Entertainment from C$0.20 to C$0.15 and set a “sector perform” rating on the stock in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Corus Entertainment has a consensus rating of “Reduce” and an average price target of C$0.08.

Corus Entertainment Price Performance

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$6.98 million, a price-to-earnings ratio of -0.02, a price-to-earnings-growth ratio of -0.61 and a beta of 1.88. The company has a debt-to-equity ratio of 254.56, a current ratio of 0.69 and a quick ratio of 0.70.

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.