Stingray Group (TSE:RAY.A) Price Target Raised to C$21.00

Stingray Group (TSE:RAY.A) had its price objective raised by National Bank Financial from C$18.00 to C$21.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently issued reports on RAY.A. BMO Capital Markets upped their price target on Stingray Group from C$13.00 to C$19.00 in a research report on Thursday, November 13th. Royal Bank Of Canada boosted their target price on Stingray Group from C$17.00 to C$18.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Desjardins upped their target price on Stingray Group from C$16.50 to C$18.50 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Finally, Canadian Imperial Bank of Commerce increased their price target on Stingray Group from C$13.50 to C$16.00 in a research note on Thursday, November 13th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$17.42.

Stingray Group Stock Up 0.5%

TSE:RAY.A opened at C$16.96 on Wednesday. The company’s 50-day simple moving average is C$15.06 and its 200-day simple moving average is C$12.55. The company has a debt-to-equity ratio of 154.45, a quick ratio of 0.69 and a current ratio of 1.05. Stingray Group has a fifty-two week low of C$7.35 and a fifty-two week high of C$17.79. The stock has a market capitalization of C$1.15 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.13 and a beta of 1.48.

Stingray Group (TSE:RAY.A) last posted its quarterly earnings data on Tuesday, February 10th. The company reported C$0.38 EPS for the quarter. Stingray Group had a negative net margin of 5.78% and a negative return on equity of 7.45%. On average, equities analysts anticipate that Stingray Group will post 1 earnings per share for the current fiscal year.

Stingray Group Company Profile

Stingray Group Inc is a music, media, and technology company. The company is a provider of curated direct-to-consumer and B2B services, including audio television channels, radio stations, SVOD content, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps. It operates through the following segments namely the Broadcasting and commercial music segment and Radio segment. The company generates maximum revenue from the Broadcasting and commercial music segment.