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

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StarTek (NYSE:SRT) issued its earnings results on Thursday. The business services provider reported ($0.13) earnings per share 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 firm had revenue of $151.51 million for the quarter, compared to analyst estimates of $66.44 million.

StarTek stock traded down $0.36 during trading on Friday, hitting $5.67. 149,409 shares of the company were exchanged, 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 market capitalization of $221.96 million, a P/E ratio of -70.88 and a beta of 0.48. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.84.

SRT has been the subject of several recent research reports. ValuEngine downgraded StarTek from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Zacks Investment Research downgraded StarTek from a “hold” rating to a “strong sell” rating in a report on Friday, August 10th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.50.

Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in StarTek during the second quarter worth $118,000. LMR Partners LLP bought a new stake in StarTek during the second quarter worth $160,000. Raymond James & Associates bought a new stake in StarTek during the second quarter worth $277,000. Paloma Partners Management Co bought a new stake in StarTek during the second quarter worth $316,000. Finally, JPMorgan Chase & Co. grew its holdings in StarTek by 34.7% during the third quarter. JPMorgan Chase & Co. now owns 52,704 shares of the business services provider’s stock worth $349,000 after buying an additional 13,590 shares in the last quarter. Institutional investors and hedge funds own 14.47% of the company’s stock.

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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.

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Earnings History for StarTek (NYSE:SRT)

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