StarTek (SRT) Posts Earnings Results, Misses Estimates By $0.04 EPS

StarTek (NYSE:SRT) issued its quarterly earnings results on Thursday. The business services provider reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04), Morningstar.com reports. StarTek had a negative net margin of 6.49% and a negative return on equity of 16.48%. The firm had revenue of $151.51 million for the quarter, compared to analysts’ expectations of $66.44 million.

Shares of NYSE SRT traded down $0.36 during trading on Friday, reaching $5.67. 149,409 shares of the stock traded hands, compared to its average volume of 80,039. StarTek has a 52-week low of $5.26 and a 52-week high of $14.27. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a market capitalization of $221.96 million, a PE ratio of -70.88 and a beta of 0.48.

A number of research analysts have recently commented on the company. Zacks Investment Research cut StarTek from a “hold” rating to a “strong sell” rating in a research report on Friday, August 10th. ValuEngine raised StarTek from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $13.50.

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of StarTek during the 2nd quarter valued at $118,000. LMR Partners LLP purchased a new position in shares of StarTek during the 2nd quarter valued at $160,000. Raymond James & Associates purchased a new position in shares of StarTek during the 2nd quarter valued at $277,000. Paloma Partners Management Co purchased a new position in shares of StarTek during the 2nd quarter valued at $316,000. Finally, JPMorgan Chase & Co. lifted its position in shares of StarTek by 34.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 52,704 shares of the business services provider’s stock valued at $349,000 after buying an additional 13,590 shares during the last quarter. 14.47% of the stock is currently owned by hedge funds and other institutional investors.

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StarTek Company Profile

StarTek, Inc operates as a customer engagement business process outsourcing services provider that delivers contact center and customer engagement solutions. It offers technical and product support, sales support, provisioning and order processing, receivables management, healthcare services, up-sell and cross-sell program, and customer intelligence analytics; and additional services, such as technology enabled and human interaction to other industry-specific processes, including training curriculum development, workforce management, customer analytics, quality monitoring services, and dispositions.

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Earnings History for StarTek (NYSE:SRT)

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