StarTek, Inc. (SRT) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
StarTek, Inc. (NYSE:SRT) released its quarterly earnings data on Wednesday. The business services provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01, RTT News reports. StarTek had a net margin of 0.70% and a return on equity of 4.89%. The company had revenue of $73.98 million during the quarter, compared to analyst estimates of $76.84 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share.
StarTek (NYSE SRT) traded down 4.51% during midday trading on Thursday, reaching $11.64. 190,611 shares of the company were exchanged. The firm’s 50-day moving average is $12.56 and its 200-day moving average is $10.16. StarTek has a one year low of $4.23 and a one year high of $14.78. The firm has a market cap of $185.05 million, a P/E ratio of 88.85 and a beta of -0.07.
SRT has been the subject of several recent research reports. Zacks Investment Research raised shares of StarTek from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 26th. 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.
In other news, Director Arnaud Ajdler sold 94,603 shares of StarTek stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $11.48, for a total value of $1,086,042.44. Following the transaction, the director now owns 37,507 shares of the company’s stock, valued at $430,580.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 17.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SRT. Dimensional Fund Advisors LP raised its position in StarTek by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 954,100 shares of the business services provider’s stock worth $8,291,000 after buying an additional 29,596 shares in the last quarter. Engine Capital Management LLC raised its position in StarTek by 8,617.8% in the first quarter. Engine Capital Management LLC now owns 784,425 shares of the business services provider’s stock worth $6,817,000 after buying an additional 775,427 shares in the last quarter. Renaissance Technologies LLC raised its position in StarTek by 3.9% in the first quarter. Renaissance Technologies LLC now owns 634,300 shares of the business services provider’s stock worth $5,512,000 after buying an additional 23,900 shares in the last quarter. Acadian Asset Management LLC raised its position in StarTek by 70.6% in the first quarter. Acadian Asset Management LLC now owns 150,761 shares of the business services provider’s stock worth $1,307,000 after buying an additional 62,407 shares in the last quarter. Finally, Algert Global LLC purchased a new position in StarTek during the second quarter worth approximately $1,390,000. 46.05% of the stock is currently owned by institutional investors.
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.
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