Stingray Group (TSE:RAY.A) Share Price Passes Above 50-Day Moving Average – What’s Next?

Stingray Group (TSE:RAY.A) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$15.49 and traded as high as C$15.89. Stingray Group shares last traded at C$15.54, with a volume of 45,454 shares traded.

Wall Street Analyst Weigh In

Several research firms have issued reports on RAY.A. BMO Capital Markets upped their target price on shares of Stingray Group from C$13.00 to C$19.00 in a research note on Thursday, November 13th. Desjardins boosted their price objective on shares of Stingray Group from C$16.50 to C$18.50 and gave the company a “buy” rating in a report on Tuesday, January 20th. Royal Bank Of Canada increased their price objective on shares of Stingray Group from C$17.00 to C$18.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Canadian Imperial Bank of Commerce lifted their target price on shares of Stingray Group from C$13.50 to C$16.00 in a research report on Thursday, November 13th. Finally, National Bank Financial boosted their target price on shares of Stingray Group from C$18.00 to C$21.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$17.42.

Stingray Group Stock Performance

The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45. The company has a market cap of C$1.06 billion, a PE ratio of 24.67, a P/E/G ratio of 1.13 and a beta of 1.48. The business’s fifty day moving average is C$15.49 and its 200-day moving average is C$12.94.

Stingray Group (TSE:RAY.A) last released its quarterly earnings results on Tuesday, February 10th. The company reported C$0.38 EPS for the quarter. Stingray Group had a negative return on equity of 7.45% and a negative net margin of 5.78%. As a group, research analysts predict that Stingray Group will post 1 EPS for the current fiscal 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.