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

StarTek (NYSE:SRT) released its earnings results on Wednesday, May 8th. The business services provider reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04), Morningstar.com reports. StarTek had a negative return on equity of 8.22% and a negative net margin of 5.21%. The firm had revenue of $161.14 million for the quarter.

NYSE SRT opened at $8.12 on Friday. StarTek has a twelve month low of $5.26 and a twelve month high of $8.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.74.

Several research analysts have recently issued reports on SRT shares. ValuEngine downgraded shares of StarTek from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Zacks Investment Research downgraded shares of StarTek from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Finally, Lake Street Capital set a $12.00 price objective on shares of StarTek and gave the stock a “buy” rating in a report on Friday, May 17th.

In other news, Director Bharat Rao acquired 274,064 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were purchased at an average cost of $7.48 per share, with a total value of $2,049,998.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Peter F. Martino sold 5,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $7.41, for a total transaction of $37,050.00. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. ExodusPoint Capital Management LP lifted its position in shares of StarTek by 272.1% during the first quarter. ExodusPoint Capital Management LP now owns 39,440 shares of the business services provider’s stock worth $311,000 after purchasing an additional 28,840 shares in the last quarter. Citigroup Inc. acquired a new position in shares of StarTek during the first quarter worth approximately $141,000. Dimensional Fund Advisors LP lifted its position in shares of StarTek by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 783,206 shares of the business services provider’s stock worth $6,172,000 after purchasing an additional 34,478 shares in the last quarter. US Bancorp DE acquired a new position in StarTek in the first quarter valued at approximately $197,000. Finally, Raymond James & Associates lifted its holdings in StarTek by 6.2% in the first quarter. Raymond James & Associates now owns 101,052 shares of the business services provider’s stock valued at $796,000 after buying an additional 5,923 shares during the period. 11.43% 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 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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