Stingray Group (TSE:RAY.A) Announces Earnings Results

Stingray Group (TSE:RAY.A) released its earnings results on Tuesday. The company reported C$0.38 earnings per share for the quarter, FiscalAI reports. Stingray Group had a negative net margin of 5.78% and a negative return on equity of 7.45%.

Stingray Group Stock Down 4.0%

Shares of TSE RAY.A opened at C$16.87 on Thursday. The firm’s 50-day moving average is C$14.94 and its 200-day moving average is C$12.47. The firm has a market capitalization of C$1.15 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. Stingray Group has a 1 year low of C$7.35 and a 1 year 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.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Canadian Imperial Bank of Commerce boosted their target price on shares of Stingray Group from C$13.50 to C$16.00 in a report on Thursday, November 13th. BMO Capital Markets boosted their price objective on shares of Stingray Group from C$13.00 to C$19.00 in a report on Thursday, November 13th. National Bank Financial lifted their price target on shares of Stingray Group from C$18.00 to C$21.00 and gave the company an “outperform” rating in a research report on Wednesday. Desjardins upped their price objective 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 lifted their price objective on Stingray Group from C$17.00 to C$18.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Stingray Group presently has an average rating of “Buy” and an average price target of C$17.42.

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.