According to Zacks, “StarTek, Inc. is a global provider of process management services and owns and operates branded vertical market Internet web sites. Their process management service platforms include E-commerce support and fulfillment, provisioning management for telecommunications systems, high-end inbound technical support, and an offering of supply chain management services. As an outsourcer of process management services as its core business, StarTek allows its clients to focus on their primary business, reduce overhead, replace fixed costs with variable costs, and reduce working capital needs. “
Several other brokerages have also weighed in on SRT. Robert W. Baird reiterated a hold rating and set a $8.00 price objective on shares of StarTek in a report on Monday, September 6th. TheStreet upgraded shares of StarTek from a d+ rating to a c- rating in a report on Friday, August 27th.
StarTek (NYSE:SRT) last announced its quarterly earnings data on Monday, August 9th. The business services provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.13. StarTek had a negative net margin of 1.81% and a negative return on equity of 0.63%. The firm had revenue of $189.03 million for the quarter, compared to analyst estimates of $159.62 million. Equities research analysts forecast that StarTek will post -0.02 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC raised its holdings in shares of StarTek by 66.4% in the 1st quarter. Lazard Asset Management LLC now owns 3,968 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,584 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of StarTek in the 2nd quarter worth about $39,000. Meeder Asset Management Inc. raised its holdings in shares of StarTek by 1,606.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,114 shares of the business services provider’s stock worth $51,000 after acquiring an additional 6,697 shares during the last quarter. Morgan Stanley grew its position in StarTek by 582.6% in the 2nd quarter. Morgan Stanley now owns 7,823 shares of the business services provider’s stock worth $55,000 after purchasing an additional 6,677 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in StarTek in the 1st quarter worth about $87,000. Institutional investors own 16.56% of the company’s stock.
StarTek Company Profile
Startek, Inc is a global business process outsourcing company that provides Omni channel customer interactions, technology and back-office support solutions. It operates under the Startek and Aegis brands, which helps the large global companies to connect emotionally with their customers, solve issues, and improve net promoter scores and other customer-facing performance metrics.
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