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

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StarTek (NYSE:SRT) released its 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 return on equity of 16.48% and a negative net margin of 6.49%. The business had revenue of $151.51 million during the quarter, compared to the consensus estimate of $66.44 million.

Shares of StarTek stock traded down $0.36 during trading on Friday, hitting $5.67. The stock had a trading volume of 149,409 shares, compared to its average volume of 80,039. The company has a market cap of $221.96 million, a P/E ratio of -70.88 and a beta of 0.48. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.50 and a quick ratio of 2.50. StarTek has a 1 year low of $5.26 and a 1 year high of $14.27.

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in shares of StarTek by 10.5% in the second quarter. Renaissance Technologies LLC now owns 939,600 shares of the business services provider’s stock worth $5,910,000 after acquiring an additional 89,400 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of StarTek by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 856,232 shares of the business services provider’s stock worth $5,386,000 after acquiring an additional 17,482 shares in the last quarter. BlackRock Inc. increased its position in shares of StarTek by 2.6% in the third quarter. BlackRock Inc. now owns 391,592 shares of the business services provider’s stock worth $2,592,000 after acquiring an additional 9,751 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of StarTek by 34.7% in the third quarter. JPMorgan Chase & Co. now owns 52,704 shares of the business services provider’s stock worth $349,000 after acquiring an additional 13,590 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of StarTek in the second quarter worth approximately $316,000. 14.47% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently commented on SRT shares. ValuEngine downgraded shares of StarTek from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Zacks Investment Research downgraded shares of StarTek from a “hold” rating to a “strong sell” rating in a research report on Friday, August 10th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. StarTek currently has a consensus rating of “Hold” and an average price target of $13.50.

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About StarTek

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.

Featured Story: Retained Earnings

Earnings History for StarTek (NYSE:SRT)

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