StarTek, Inc. (NYSE:SRT) Announces Quarterly Earnings Results

StarTek, Inc. (NYSE:SRT) announced its quarterly earnings results on Wednesday. The business services provider reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01, RTT News reports. StarTek had a net margin of 1.43% and a return on equity of 9.77%. The firm had revenue of $73.98 million during the quarter, compared to the consensus estimate of $76.84 million. During the same period last year, the firm earned ($0.11) EPS.

Receive News & Ratings for StarTek Inc. Daily

Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StarTek Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Shares of StarTek (NYSE:SRT) opened at 11.64 on Friday. The stock’s 50 day moving average is $12.57 and its 200 day moving average is $10.17. The stock has a market cap of $185.05 million, a PE ratio of 88.85 and a beta of -0.07. StarTek has a 52-week low of $4.23 and a 52-week high of $14.78.

Several brokerages have commented on SRT. Lake Street Capital raised their price target on shares of StarTek from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research raised shares of StarTek from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a report on Saturday, May 13th.

In related news, Director Arnaud Ajdler sold 119,919 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $11.35, for a total transaction of $1,361,080.65. Following the completion of the transaction, the director now owns 37,507 shares in the company, valued at $425,704.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Teachers Advisors LLC bought a new position in shares of StarTek during the second quarter worth $285,000. Bank of New York Mellon Corp raised its position in shares of StarTek by 93.4% in the second quarter. Bank of New York Mellon Corp now owns 43,412 shares of the business services provider’s stock worth $531,000 after buying an additional 20,969 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of StarTek during the second quarter worth $258,000. Algert Global LLC bought a new position in shares of StarTek during the second quarter worth $1,390,000. Finally, Russell Investments Group Ltd. raised its position in shares of StarTek by 24.8% in the second quarter. Russell Investments Group Ltd. now owns 37,695 shares of the business services provider’s stock worth $461,000 after buying an additional 7,491 shares in the last quarter. Hedge funds and other institutional investors own 46.05% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was first published by [[site]] and is the property of of [[site]]. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The correct version of this piece can be accessed at [[permalink]].

StarTek Company Profile

StarTek, Inc is a customer engagement business process outsourcing (BPO) services provider, delivering customer care solutions. The Company operates through three segments: Domestic, Nearshore and Offshore. As of December 31, 2016, its Domestic segment included the operations of 13 facilities in the United States and one facility in Canada; its Offshore segment included the operations of four facilities in the Philippines, and its Nearshore segment included the operations of two facilities in Honduras and one facility in Jamaica.