By Ketki Saxena
Investing.com -- Corus Entertainment (TSX:CJRb), the Canadian media and content company, saw its target price revised by several research analysts on Friday, July 14, 2023. The company operates specialty and conventional television networks along with radio stations in Canada and internationally, through two segments, Television and Radio.
CIBC (TSX:CM) increased their target price for Corus Entertainment from C$1.75 to C$2.00, indicating a potential upside of 25.00% from the company's current price. On the same day, BMO (TSX:BMO) Capital Markets also upgraded their price target from C$1.75 to C$2.15, suggesting a potential upside of 34.38% from the current stock price.
Additionally, Royal Bank of Canada (TSX:RY) raised their target price for Corus Entertainment from C$2.75 to C$3.00 and maintained a "sector perform" rating for the company. Meanwhile, TD (TSX:TD) Securities revised their target price downwards from C$4.50 to C$3.75 but retained a "buy" rating for the company in a report issued on June 30th.
Other firms have also reassessed their stance on Corus Entertainment recently. National Bankshares reduced their target price from C$2.25 to C$2.00 on June 9th, while Cormark lowered their target price from C$1.80 to C$1.40 on June 30th.
Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock, leading to an average rating of “Hold” and a consensus price target of C$2.46.
Despite these revisions, Corus Entertainment's stock traded down on Friday. The company has a current ratio of 0.67, a quick ratio of 0.70 and a debt-to-equity ratio of 341.22.
The stock's 50-day moving average price is C$1.31 and its 200-day moving average price is C$1.68. The company has experienced a 52 week low of C$1.15 and a high of C$4.06, with a market cap of C$313.71 million, a P/E ratio of -0.37, and a beta of 1.79.