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

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

Stingray Group Price Performance

TSE RAY.A opened at C$17.57 on Wednesday. Stingray Group has a one year low of C$7.35 and a one year high of C$17.79. The stock has a 50-day moving average of C$14.89 and a 200 day moving average of C$12.44. The company has a debt-to-equity ratio of 154.45, a quick ratio of 0.69 and a current ratio of 1.05. The company has a market capitalization of C$1.19 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.13 and a beta of 1.48.

Analyst Ratings Changes

A number of equities analysts have weighed in on RAY.A shares. Canadian Imperial Bank of Commerce raised their target price on shares of Stingray Group from C$13.50 to C$16.00 in a research note on Thursday, November 13th. BMO Capital Markets raised their price objective on Stingray Group from C$13.00 to C$19.00 in a research report on Thursday, November 13th. National Bankshares boosted their target price on Stingray Group from C$13.00 to C$13.50 and gave the stock an “outperform” rating in a report on Monday, October 27th. Royal Bank Of Canada lifted their price target on Stingray Group from C$17.00 to C$18.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Finally, Desjardins upped 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 research note on Tuesday, January 20th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$16.17.

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.