StarTek (NYSE:SRT) posted its quarterly earnings results on Thursday. The business services provider reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $151.51 million during the quarter, compared to analyst estimates of $66.44 million.
StarTek stock traded down $0.36 during midday trading on Friday, reaching $5.67. The company’s stock had a trading volume of 149,409 shares, compared to its average volume of 80,039. StarTek has a fifty-two week low of $5.26 and a fifty-two 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 cap of $221.96 million, a PE ratio of -70.88 and a beta of 0.48.
SRT has been the topic of a number of analyst reports. Zacks Investment Research upgraded StarTek from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 17th. ValuEngine cut StarTek from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.50.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in StarTek by 2.6% in the third quarter. BlackRock Inc. now owns 391,592 shares of the business services provider’s stock valued at $2,592,000 after buying an additional 9,751 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 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 purchasing an additional 13,590 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of StarTek by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 856,232 shares of the business services provider’s stock worth $5,386,000 after purchasing an additional 17,482 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of StarTek during the second quarter worth about $118,000. Finally, LMR Partners LLP purchased a new position in shares of StarTek during the second quarter worth about $160,000. Institutional investors own 14.47% of the company’s stock.
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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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