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

Stingray Group (TSE:RAY.A) posted its quarterly earnings results on Tuesday. The company reported C$0.38 EPS 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 Trading Up 1.8%

TSE:RAY.A traded up C$0.31 during midday trading on Tuesday, hitting C$17.57. The stock had a trading volume of 173,232 shares, compared to its average volume of 86,742. Stingray Group has a one year low of C$7.35 and a one year high of C$17.79. 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. The stock has a 50-day moving average of C$14.83 and a 200 day moving average of C$12.39. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45.

Wall Street Analyst Weigh In

Several research firms have issued reports on RAY.A. Desjardins upped their price target on shares of Stingray Group from C$16.50 to C$18.50 and gave the company a “buy” rating in a research report on Tuesday, January 20th. BMO Capital Markets boosted their target price on Stingray Group from C$13.00 to C$19.00 in a research note on Thursday, November 13th. National Bankshares raised their price target on Stingray Group from C$13.00 to C$13.50 and gave the stock an “outperform” rating in a research 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 note on Tuesday, February 3rd. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Stingray Group from C$13.50 to C$16.00 in a research report on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$16.17.

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.