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Corus Entertainment Inc T.CJR.B

Alternate Symbol(s):  CJREF

Corus Entertainment Inc. is a Canada-based media and content company that develops and delivers brands and content across platforms for audiences around the world. The Company's segments include Television and Radio. Its portfolio of multimedia offerings encompasses approximately 32 specialty television services, 37 radio stations, 15 conventional television stations, digital and streaming platforms, and social digital agency and media services. Its brands include Global Television, W Network, Flavour Network and Home Network (launching soon), The HISTORY Channel, Showcase, Adult Swim, National Geographic and Global News, along with streaming platforms STACKTV, TELETOON+, the Global TV App and Curiouscast. It is also the domestic advertising representative and an original content partner for Pluto TV, a Paramount Company, which is the free ad-supported streaming television service. It is an international content creator, producer and distributor through Corus Studios and Nelvana.


TSX:CJR.B - Post by User

Comment by Puma1backon Sep 14, 2023 9:51am
283 Views
Post# 35635738

RE:National bank

RE:National bank

from the Globe:


The Globe and Mail reports in its Thursday, Sept. 14, edition that National Bank Financial analyst Adam Shine has lowered his recommendation for Corus Entertainment to "underperform" from "sector perform." The Globe's David Leeder writes that Mr. Shine slashed his share target back at 70 cents to $1.30. Analysts on average target the Class B shares at $2.29. The Globe says Mr. Shine has "materially" reduced his financial estimates for both the remainder of 2023 and 2024 as advertisement sales continue to deteriorate and the Hollywood writers' strike threatens the new television season. Mr. Shine says in a note: "Hollywood writers have been on strike since May 2 and actors since July 14 with no end in sight for this labour strife. Once resolved, it will take time for new TV output to materialize for a much truncated new season. ... How could the 2024-2025 TV season unfold? It should benefit from some kind of post-strike & cyclical recovery, but we don't know about any lingering audience (cord-cutting/shaving) and advertising implications to exacerbate secular issues, so it's best to be prudent." The Globe reported on March 23 that Mr. Shine rated Corus "sector perform." It was then worth $1.64.




Puma1back wrote: Came out with a pretty ugly set of comments with target dropped from $2 to $1.30 and warning that dividend gets eliminated in second half of next year. 

 

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