In a report issued on April 9, Aravinda Galappatthige from Canaccord Genuity maintained a Buy rating on Corus Entertainment (CJREF), with a price target of C$7.50. The company’s shares closed last Friday at $4.98, close to its 52-week high of $5.20.
According to TipRanks.com, Galappatthige is a 4-star analyst with an average return of 8.6% and a 56.6% success rate. Galappatthige covers the Services sector, focusing on stocks such as Cogeco Communications, Shaw Communications, and Yellow Media.
Currently, the analyst consensus on Corus Entertainment is a Strong Buy with an average price target of $5.46, which is a 9.6% upside from current levels. In a report issued on April 9, RBC Capital also maintained a Buy rating on the stock with a C$7.00 price target.
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Based on Corus Entertainment’s latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $420 million and net profit of $76.66 million. In comparison, last year the company earned revenue of $468 million and had a net profit of $78.12 million.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CJREF in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Corus Entertainment, Inc. is a media and entertainment holding company, which engages in the provision of radio broadcasting, specialty television, digital audio services, and cable advertising services. It operates through the following segments: Television, Radio, and Corporate. The Television segment comprises of specialty television networks, pay television services, conventional television stations, and the Corus content business. The Radio segment includes radio stations with a concentration in the densely populated area. The Corporate segment refers to the incremental cost of corporate overhead in excess of the amount allocated to the other operating segments. The company was founded by James Robert Shaw on March 3, 1998 and is headquartered in Toronto, Canada.
