Corus Entertainment (B) (CJR.B.TO)

They are coming out with results today or tomorrow. He feels the next couple of quarters will show some growth, in which case it is very undervalued. The advertising revenue should start to go up. The high yield is sustainable and is not a warning sign. There should be some really good upside here.

The media group in general has been doing well recently, but this one is lagging. Over the past year, their share price has performed worse than over 50% of the stocks in the market. He would prefer Comcast (CMCSA-Q) or Shaw Communications (SJR.B-T). Shaw has the new X1 network that will allow them to get a lot of growth.

Feels the 8.8% dividend yield is relatively safe. The cash flow coverage of the dividend is increasing. He likes this one.

The chart is looking pretty good. Currently it is in an upward trend, and recently broke to new highs, so technically it looks good. Seasonally, it has done very well until around the end of July, when it tends to peak out and roll over. Hold the stock for now, but watch the technicals very closely. If it starts to roll over, that will be the time to take some money off the table.

Owns TVs and radio stations and have to deal with the bundling and the CRTC decision of not having to take all channels. That negatively impacts them. They’ve spun in Shaw media which are good assets, but this company is still pretty expensive relative to what they earn. They are struggling with the business model that is in decay. Thinks the dividend is sustainable, but it is going to be tough over the next 2-3 years. 8.4% dividend yield.

Bought the media assets from Shaw Communications about a year ago. They are big into children’s TV, radio and other media assets. They also own a content creator. There were concerns about debt, but that is coming down. Feels management is doing a good job. He is watching this.

This company has lots of cash flow, but over time it is declining with the industry. If you don’t mind no capital appreciation, but having a good yield, stick with it. He wouldn’t be buying this.

Had owned this at the time the stock price was going down. When it got back to previous levels, he sold his holdings. Over the last 12-18 months, they’ve gone through a transition of being more focused on what they want the business to look like going forward. Today, they are in 2 parts, children and women and family. He likes that move, but there are still lots of question marks on what the industry will look like. Still a lot of work to be done. Dividend yield of 8.6% which he thinks is safe.

It halved in price partially because of cable cutting. But it has the shows that people are NOT going to stop watching. Now they are actually starting to see some increase in advertising revenues. It remains a buy because the dividend is safe at 8.5%. At some point people will realize the selloff was overdone.

The yield tells you they are under stress. They have underperformed. We have seen a number of earnings misses. It is an underperforming sector. He does not know if the dividend is that sustainable.

This is one that you buy, hold and don’t let it go. In the large cap space, it is probably the best value out there. Still misunderstood. The largest TV broadcaster in Canada. Everybody is worried about cord cutting and cord shaving, but they bought Shaw Media about a year ago, and now the cost synergies and revenues are kicking in. Over the next 12 months, he expects the company to return to growth. Subscriber growth has already started to go back up thanks to Disney and some of the other specialty channels. They just renegotiated their ad agency contracts, presumably at higher rates. Dividend yield of 9%. (Analysts’ price target is $13.)

They have to get some good synergies of their Shaw acquisition, and in terms of subscriber, they have to keep it up. In 2018, the CanWest payment of $5 million a year disappears. The payout ratio is starting to come back down. Dividend yield of 8.94%, which he thinks is secure, but he wouldn’t mind if they cut it to conserve cash and reinvest it in the business. (Analysts’ price target is $13.23.)

8.6% dividend yield, which in the short term is safe for the time being. The flipside is, they should cut the dividend and use the cash flow to reinvest in the business to turn things around. They’ve done a great job in realigning their focus to kids and family, as opposed to some of the other brands they were operating under. If buying the stock, you are betting on the next leg up of their recovery from here. There are easier ways to make money out there.

Radio station with specialty channels. They also own a children’s program. Feels the balance sheet is stretched and that the payout ratio is a little tight. Feels it is a trading stock in the $12-$13 range. Doesn’t see the business as being sustainable long-term. Prefers something with growth such as DHX Media (DHX.B-T), however you will be giving up some yield.

This is in a bit of a decline. Media assets are not exactly thrilling assets to hold right now. There is not a lot of growth. Their dividend is pretty well covered, so it is pretty safe. You are just not going to get the multiple expansion. Think of this as just a dividend payer, and hope that earnings turn around. The dividend yield is going to keep a bit of a floor under the stock, so you don’t really have to worry about that. Hopefully the media cycle can turn around a little. He sees better income opportunities elsewhere. Dividend yield of 8.7% may be a little rich.