Morgan Stanley Cuts Stars Group (NASDAQ:TSG) Price Target to $17.00

Stars Group (NASDAQ:TSG) had its target price lowered by Morgan Stanley from $18.00 to $17.00 in a research note released on Thursday, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also recently issued reports on TSG. Deutsche Bank began coverage on shares of Stars Group in a report on Monday, July 1st. They set a hold rating for the company. JPMorgan Chase & Co. assumed coverage on shares of Stars Group in a report on Monday, July 1st. They issued a neutral rating for the company. ValuEngine cut shares of Stars Group from a hold rating to a sell rating in a report on Wednesday, September 4th. BidaskClub raised shares of Stars Group from a sell rating to a hold rating in a report on Wednesday, September 4th. Finally, Desjardins raised shares of Stars Group from a hold rating to a buy rating in a report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $22.95.

NASDAQ TSG opened at $16.16 on Thursday. The stock has a market capitalization of $4.68 billion, a P/E ratio of 9.03 and a beta of 1.54. Stars Group has a 52-week low of $12.59 and a 52-week high of $26.00. The firm has a 50-day moving average price of $15.21 and a 200 day moving average price of $16.83. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.17.

Stars Group (NASDAQ:TSG) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The firm had revenue of $637.62 million during the quarter, compared to analysts’ expectations of $655.97 million. Stars Group had a net margin of 0.39% and a return on equity of 11.76%. The firm’s revenue for the quarter was up 55.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. On average, equities research analysts expect that Stars Group will post 1.74 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of TSG. ValueAct Holdings L.P. purchased a new position in Stars Group in the second quarter valued at about $232,664,000. Boston Partners purchased a new position in Stars Group in the second quarter valued at about $75,451,000. Caledonia Private Investments Pty Ltd increased its holdings in Stars Group by 4.9% in the second quarter. Caledonia Private Investments Pty Ltd now owns 54,571,702 shares of the company’s stock valued at $931,539,000 after buying an additional 2,567,478 shares in the last quarter. Royal Bank of Canada increased its holdings in Stars Group by 536.5% in the second quarter. Royal Bank of Canada now owns 2,343,138 shares of the company’s stock valued at $39,998,000 after buying an additional 1,975,022 shares in the last quarter. Finally, Sterling Capital Management LLC purchased a new position in Stars Group in the second quarter valued at about $31,644,000. 65.46% of the stock is owned by institutional investors.

Stars Group Company Profile

The Stars Group Inc engages in online gaming and betting businesses primarily in Europe, Australia, and the Americas. It owns and operates gaming and related interactive entertainment businesses, such as online real-money poker, casino and betting, play-money poker, and casino and sports prediction games, which are delivered through mobile, Web, and desktop applications.

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Analyst Recommendations for Stars Group (NASDAQ:TSG)

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