BMO Capital Markets Lowers Stingray Group (TSE:RAY.A) Price Target to C$6.50

Stingray Group (TSE:RAY.AGet Rating) had its price objective cut by equities research analysts at BMO Capital Markets from C$8.50 to C$6.50 in a note issued to investors on Thursday, BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 38.30% from the stock’s previous close.

Separately, CIBC cut their price objective on Stingray Group from C$8.00 to C$6.50 and set an “outperform” rating for the company in a report on Thursday.

Stingray Group Price Performance

Stingray Group stock opened at C$4.70 on Thursday. Stingray Group has a 52 week low of C$4.10 and a 52 week high of C$7.77. The business has a 50-day simple moving average of C$5.18 and a 200 day simple moving average of C$5.79. The company has a quick ratio of 0.67, a current ratio of 0.82 and a debt-to-equity ratio of 147.55. The stock has a market cap of C$411.99 million and a price-to-earnings ratio of 8.70.

About Stingray Group

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Stingray Group Inc provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and an on-demand video service; Stingray Brava, a TV channel that provides operas and ballets, classical music performances, and local content; Stingray DJAZZ, a TV channel that features jazz concerts, films, portraits, and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke that offers videos over the Internet and TV for TV service providers, as well as directly to consumers.

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