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

Stingray Group (TSE:RAY.A) had its price objective boosted by National Bank Financial from C$18.00 to C$21.00 in a research note released on Wednesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

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

Stingray Group Stock Down 4.0%

RAY.A opened at C$16.87 on Wednesday. Stingray Group has a 12 month low of C$7.35 and a 12 month high of C$17.79. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45. The business’s 50-day moving average price is C$14.94 and its 200-day moving average price is C$12.47. The company has a market cap of C$1.15 billion, a P/E ratio of 22.20, a P/E/G ratio of 1.13 and a beta of 1.48.

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

About Stingray Group

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.