National Bankshares Boosts Stingray Group (TSE:RAY.A) Price Target to C$21.00

Stingray Group (TSE:RAY.A) had its target price lifted by stock analysts at National Bankshares from C$18.00 to C$21.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ target price indicates a potential upside of 22.95% from the company’s current price.

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

Stingray Group Stock Performance

Stingray Group stock traded down C$0.49 during midday trading on Wednesday, reaching C$17.08. 253,783 shares of the company traded hands, compared to its average volume of 92,323. The firm has a market capitalization of C$1.16 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The business has a 50 day moving average of C$14.89 and a two-hundred day moving average of C$12.44. Stingray Group has a 12 month low of C$7.35 and a 12 month high of C$17.79. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69.

Stingray Group (TSE:RAY.A) last issued its quarterly earnings data on Tuesday, February 10th. The company reported C$0.38 earnings per share for the quarter. Stingray Group had a negative net margin of 5.78% and a negative return on equity of 7.45%. As a group, research analysts predict that Stingray Group will post 1 earnings per share for the current 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.