Corus Entertnmnt B Gets a Hold Rating from BMO Capital

By Ryan Adsit

Wall Street analyst has provided a rating update for the Services sector company on June 27, while remaining neutral on the stock. Analyst Tim Casey from BMO Capital reiterated a Hold rating, with a C$13.50 price target on June 27.

According to TipRanks.com, Casey is a 4-star analyst with an average return of 7.6% and a 72.9% success rate. Casey covers the Services sector, focusing on stocks such as Shaw Communications Inc, Thomson Reuters Corp, and Corus Entertainment.

Currently, the analyst consensus on Corus Entertnmnt B is Moderate Buy and the average price target is C$14.40, representing a 3.2% upside.

In a report issued on June 27, Canaccord Genuity also maintained a Hold rating on the stock with a C$13 price target.

Based on Corus Entertnmnt B’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of C$462 million and quarterly net profit of C$66.72 million. In comparison, last year the company earned revenue of C$361 million and had a GAAP net loss of C$15.77 million.

Corus Entertainment, Inc. is a media and entertainment company, which engages in the provision of radio broadcasting, specialty television, digital audio services, and cable advertising services. It operates through the Television and Radio segments.

The company’s shares closed on Wednesday at $13.96, close to its 52-week high of $14.10.