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

Just reported and results were a bit weak. They bought the media assets of Shaw Communication (SJR.B-T) last year, and are really in the process of integrating those assets. Media is going through a lot of change in terms of how people watch the various stations and networks. She doesn’t have any Canadian media plays. 8.7% dividend yield, which is always a flag that they may cut.

The model price is $18. Cord cutting can actually happen and he can now choose his channels. The market is anticipating that not that many people will cut the cord. He thinks it sticks around $12-$13, EBV. You are only there for the dividend in the future. You have seen all the upside already for 2017. He thinks they are just making their dividend. 8.7% yield.

He wouldn’t buy at this point. There is a lot of uncertainty going on. The habits of millennials are very different from the habits of the previous generation.

9% dividend yield, and usually when they get this high you have to be cautious. They acquired the Shaw media assets, and are presently integrating that, so you have to keep an eye on it to see how it gets along. She has no desire to own this name at this time. She prefers something like Disney (DIS-N).

It is a big holding. The hefty dividend yield is quite safe. They are just integrating the Shaw media acquisitions they made. The next few quarters will be telling as the advertising rates get renegotiated. They are doing a good job of cutting costs and getting into their own production. If everything plays out it will do well for them. 9% dividend.

This has gone through a restructuring, from being more widespread in terms of media and content to reclassifying, and now is basically focused on 2 business lines, kids and family in the home. He likes to see that, because they now have a clear direction moving forward. The share price has bounced back since the lows. Moving forward, they have a lot of work ahead of them in terms of growing revenue for the share price to really take some meaningful steps forward. The dividend is safe currently.

Doesn’t know this company particularly well, but does know the media industry a little. He is very leery of this as people don’t spend a lot of time listening to radio or watching traditional TV anymore. Their eyes are glued to the Internet, which is major competition. The 9.3% dividend yield tells you people are concerned about the sustainability of it. The stock chart is not looking very good. If you own, think hard about if you think the business is viable. Look at their cash flow structure to see if they are generating enough money to pay the dividend.

Ranks 229 out of 700 stocks. Dividend yield of 10.4% which typically indicates there is something unusual going on. Payout is 27% of 4^th quarter trailing cash flow. Earnings were expected to be $1.12 for the Aug 2017 year end, but have been chopped 20% in the last 90 days. Earnings reported Oct 19, were down 77%, a -27% earnings surprise. However, free cash flow yield is 26% on a 4 quarter trailing basis, which is significant. That suggests they may be able to end up supporting the dividend. You should be cautious, but it appears that the current dividend is intact.

It is a small short for him. It has poor price momentum and mediocre valuation. They bought some of the assets from Shaw. They keep missing on quarters and have a lot of debt. They have a low return on equity.

Radio, like newspapers are a media in decline. Radio is a -5 compound for them. They are okay for now but the market is telling you something when you have a 10% yield. He would stay away.

Having to take cable channels you don’t want, everybody has really freaked out about this, because it has a lot of content. However, they have children’s and women’s programming which is probably the strongest area. A very high yield which appears to be safe. Still feels their content is good enough to actually make people want to watch it. A dividend yield of over 9%.

(Market Call Minute) The valuation is cheap, but it is not growing. There is not a lot of growth in it.

On the face of things, this is really cheap, and also has a very nice dividend yield. Furthermore, the dividend is decently covered with its earnings. This is an increasingly tough space, getting shows into and accepted into mainstream and very popular media. The earnings forecasts have been pretty steadily falling. FMV is still more than 100% higher than the current stock price. The question is, have the analysts kept up with the reality. If they have, then this is a very promising stock with a lovely yield. It is currently trading at around BV and has a pretty decent balance sheet. It looks like a fairly decent investment. Dividend yield of 9.5%.

He likes this. They have women’s channels and kids’ channels, the much desired channels that people want. Being the independent, they have to be included in the bundles. This is one of the higher risk/high reward stocks they own. Great yield which is safe.

Not sure if this has bottomed yet or not. If he were trying to build a position, he would pick away, a little bit at a time on bad days.