StarTek (NYSE:SRT) Releases Quarterly Earnings Results

StarTek (NYSE:SRT) posted its quarterly earnings results on Wednesday. The business services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.09), Morningstar.com reports. The company had revenue of $160.55 million during the quarter, compared to the consensus estimate of $157.92 million. StarTek had a negative net margin of 4.36% and a negative return on equity of 6.65%.

Shares of NYSE SRT traded down $0.17 during trading on Friday, hitting $6.97. The company had a trading volume of 89,604 shares, compared to its average volume of 76,647. StarTek has a 52 week low of $5.26 and a 52 week high of $8.93. The firm has a 50-day moving average of $7.27. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.13 and a current ratio of 1.13.

Several research firms have issued reports on SRT. Zacks Investment Research cut StarTek from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Lake Street Capital set a $12.00 price target on StarTek and gave the company a “buy” rating in a report on Friday, May 17th. Finally, ValuEngine cut StarTek from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 11th.

In other news, Director Bharat Rao acquired 274,064 shares of the stock in a transaction on Friday, May 17th. The shares were purchased at an average cost of $7.48 per share, for a total transaction of $2,049,998.72. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.92% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio purchased a new position in StarTek during the 2nd quarter worth approximately $35,000. JPMorgan Chase & Co. purchased a new position in StarTek during the 2nd quarter worth approximately $35,000. Charles Schwab Investment Management Inc. purchased a new position in StarTek during the 2nd quarter worth approximately $324,000. Finally, BlackRock Inc. grew its position in StarTek by 0.4% during the 4th quarter. BlackRock Inc. now owns 393,187 shares of the business services provider’s stock worth $2,614,000 after purchasing an additional 1,595 shares in the last quarter. Hedge funds and other institutional investors own 11.21% of the company’s stock.

StarTek Company Profile

StarTek, Inc operates as a business process outsourcing company that provides omnichannel customer interactions and technology back-office support solutions. It primarily offers customer engagement consulting, omnichannel engagement, social media, customer intelligence analytics, scientific research, back office, and receivables management services under the Startek and Aegis brands.

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Earnings History for StarTek (NYSE:SRT)

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