BMO Capital Markets Lowers Stingray Group (TSE:RAY.A) Price Target to C$8.50

Stingray Group (TSE:RAY.AGet Rating) had its price target dropped by research analysts at BMO Capital Markets from C$10.00 to C$8.50 in a research note issued on Thursday, BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 46.05% from the company’s previous close.

Separately, CIBC lowered their target price on shares of Stingray Group from C$9.50 to C$8.50 in a report on Thursday.

Shares of TSE:RAY.A traded down C$0.30 during trading on Thursday, hitting C$5.82. 105,780 shares of the company’s stock were exchanged, compared to its average volume of 43,322. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 132.06. The firm has a market cap of C$408.21 million and a P/E ratio of 10.38. The firm has a 50-day moving average price of C$6.72 and a two-hundred day moving average price of C$7.06. Stingray Group has a 1-year low of C$5.76 and a 1-year high of C$8.30.

About Stingray Group (Get Rating)

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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