CJREF - Is Corus Entertainment Turning Around?
Investment Thesis
Corus Entertainment (CJREF) (TSX:CJR.B) released its Q4 2018 earnings with slight decline in its revenue but 6% growth in its EBITDA. The company’s advertising revenues continued to decline as more and more consumers move away from watching traditional televisions. The company has several initiatives to turnaround its business: expanding to other TV platforms (e.g. Apple TV, Google Chromecast, and other OTT platforms). Corus trades at an attractive price to free cash flow ratio of only 3.14x. Despite a dividend cut earlier this year, the company’s current dividend is still