RE:Update on Corus, mixed bag of good and not so good, the Mirage, You have a position going into earnings?
I'm more excited to find out how many shares they bought back :)
Corus should have a good quarter, but an earnings beat could really light a fire under the stock, as the stock price has not run in advance.
GLTA
Mirage57 wrote: revenue is projected stagnant and there is a little chance for an imminent up movement. Here is my edit from Globe&Mail: Canaccord Genuity analyst Aravinda Galappatthige will be keeping a close eye on Corus Entertainment Inc.'s (CJR.B-T) advertising growth when it reports its first-quarter financial results on Friday before the bell.
For the quarter as a whole, he is expected revenue of $460.9-million, which would be a decline of 1 per cent year-over-year. He’s projection a 2-per-cent decline in its radio segment, while estimating flat results in television despite the closure of two small stations.
“While the reported numbers are affected by several non-recurring items, we expect generally steady underlying returns from Corus on the TV front," said Mr. Galappatthige. “In terms of TV ads we expect 0-per-cent growth (ex Telelatino) year-over-year despite the aforementioned closures.
Finally, we expected some initial growth from the relaunch of Bakugan, although much of the growth will likely be in Q2.”
Mr. Galappatthige made modest increases to both his revenue and EBITDA projections for both 2020 and 20021.
However, he maintained a $9 target for Corus shares with a “buy” rating. The average on the Street is $7.97.