Overview
Stingray fiscal Q2 revenue grows 21% yr/yr, beating analyst expectations
Adjusted EBITDA for fiscal Q2 beats analyst expectations
Company announces acquisition of TuneIn Holdings to expand digital audio footprint
Outlook
Stingray did not provide specific financial guidance for future quarters or full year in press release
Result Drivers
FAST CHANNEL SALES - Stingray attributes revenue growth to increased FAST channel sales
SINGING MACHINE ACQUISITION - Higher equipment sales linked to acquisition of The Singing Machine
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | C$113.30 mln | C$107.60 mln (5 Analysts) |
Q2 Adjusted EPS | Beat | C$0.32 | C$0.31 (5 Analysts) |
Q2 Adjusted Net Income | C$21.90 mln | ||
Q2 Net Income | C$11.80 mln | ||
Q2 Adjusted EBITDA | Beat | C$39.50 mln | C$38.50 mln (6 Analysts) |
Q2 Operating Cash Flow | C$24.30 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the broadcasting peer group is "hold."
Wall Street's median 12-month price target for Stingray Group Inc is C$13.25, about 16% above its November 10 closing price of C$11.13
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago
Press Release: ID:nGNX2WrxVD
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)