Stingray Group (TSE:RAY.A) Reaches New 12-Month High – Still a Buy?

Stingray Group (TSE:RAY.A)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$17.49 and last traded at C$17.24, with a volume of 71250 shares traded. The stock had previously closed at C$17.15.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RAY.A shares. National Bankshares upped their target price on shares of Stingray Group from C$13.00 to C$13.50 and gave the company an “outperform” rating in a report on Monday, October 27th. Desjardins boosted their price target on 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. Royal Bank Of Canada increased their price objective 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. 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. Finally, BMO Capital Markets increased their price target on Stingray Group from C$13.00 to C$19.00 in a report on Thursday, November 13th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Stingray Group has a consensus rating of “Buy” and an average target price of C$16.17.

Stingray Group Stock Performance

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 stock has a 50 day moving average of C$14.89 and a 200 day moving average of C$12.44. The stock has a market capitalization of C$1.19 billion, a P/E ratio of 23.12, a P/E/G 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 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%. Equities analysts predict 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.