National Bankshares Forecasts Strong Price Appreciation for Stingray Group (TSE:RAY.A) Stock

Stingray Group (TSE:RAY.A) had its price target upped by 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’ price objective points to a potential upside of 22.95% from the company’s current price.

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

Stingray Group Stock Performance

RAY.A traded down C$0.49 during trading hours on Wednesday, reaching C$17.08. The company’s stock had a trading volume of 253,783 shares, compared to its average volume of 92,323. Stingray Group has a 52 week low of C$7.35 and a 52 week high of C$17.79. The company’s 50-day moving average is C$14.89 and its 200-day moving average is 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 firm has a market cap of C$1.16 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48.

Stingray Group (TSE:RAY.A) last released 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 forecast 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.