Corus Entertainment Inc. (OTCMKTS:CJREF) Sees Significant Increase in Short Interest

Corus Entertainment Inc. (OTCMKTS:CJREF – Get Rating) saw significant growth in short interest in October. As of October 31st, there was short interest totaling 2,086,000 shares, an increase of 7.0% from October 15th’s total of 1,950,100 shares. Based on an average daily trading volume of 25,700 shares, the days-to-cover ratio is currently 81.2 days.

Corus Entertainment Shares Down 5.7%

Shares of CJREF stock opened at $1.68 on Wednesday. The stock’s 50-day moving average price is $1.78, and its two-hundred-day moving average price is $2.60. Corus Entertainment has a 12 month low of $1.43 and a 12 month high of $4.53. The company has a market cap of $328.87 million, a PE ratio of -1.77 and a beta of 1.57. The company has a current ratio of 0.84, a quick ratio of 0.84, and a debt-to-equity ratio of 0.99.

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Corus Entertainment cuts dividend

The company also recently announced a dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were paid a dividend of $0.0466 per share. This represents a return of 7.4%. The ex-dividend date was Wednesday, September 14th. Corus Entertainment’s dividend yield is currently -18.95%.

Wall Street analysts predict growth

CJREF has been the subject of several recent research reports. Scotiabank cut their price objective on Corus Entertainment from C$4.00 to C$3.40 in a research note on Monday, October 24th. CIBC downgraded Corus Entertainment from an “outperform” rating to a “neutral” rating in a research report on Monday, September 12th. Royal Bank of Canada dropped their price objective on Corus Entertainment from C$4.00 to C$3.50 in a research note on Monday, October 24th. BMO Capital Markets cut their price target on shares of Corus Entertainment from C$4.50 to C$2.50 in a research note on Monday, October 24th. Finally, Cormark cut shares of Corus Entertainment from a “buy” rating to a “market perform” rating in a report on Monday, September 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $4.52, according to MarketBeat.com.

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About Corus Entertainment

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Corus Entertainment Inc, a media and content company, operates specialty and conventional television networks and radio stations in Canada and internationally. It operates in two areas, Television and Radio. The television division operates 33 specialized television networks and 15 conventional television stations.

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