CJREF - Corus Entertainment: Strong Free Cash Flow Yield Taking Pandemic Headwinds In Stride

• Corus has taken a hit to advertising-related revenues as a result of the pandemic.
• Total subscriber revenues have held steady; however, so I expect more advertisers to gradually return as the Canadian economy recovers.
• Content production and streaming initiatives like StackTV and Nick+ have so far helped to offset cord-cutting.
• Based on free cash flow yield of ~27%, valuation, debt paydown since 2018, and other positive attributes, there's a case for a higher share price for Corus.

For further details see: