Zacks: Analysts Anticipate StarTek, Inc. (NYSE:SRT) Will Announce Quarterly Sales of $160.34 Million

Analysts expect StarTek, Inc. (NYSE:SRTGet Rating) to announce $160.34 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for StarTek’s earnings, with estimates ranging from $160.00 million to $160.68 million. StarTek reported sales of $189.03 million during the same quarter last year, which indicates a negative year over year growth rate of 15.2%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that StarTek will report full-year sales of $678.66 million for the current financial year, with estimates ranging from $674.82 million to $682.51 million. For the next fiscal year, analysts forecast that the business will report sales of $702.50 million, with estimates ranging from $700.00 million to $705.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow StarTek.

StarTek (NYSE:SRTGet Rating) last released its quarterly earnings data on Monday, May 9th. The business services provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.08). StarTek had a return on equity of 4.97% and a net margin of 1.75%. The firm had revenue of $167.32 million for the quarter, compared to the consensus estimate of $168.39 million. During the same period in the previous year, the business earned ($0.03) EPS.

A number of research analysts have weighed in on SRT shares. Zacks Investment Research lowered shares of StarTek from a “hold” rating to a “sell” rating in a research note on Friday, May 20th. StockNews.com lowered shares of StarTek from a “buy” rating to a “hold” rating in a research note on Monday, May 16th. Barrington Research cut their price target on shares of StarTek from $8.00 to $6.00 in a research note on Friday, March 11th. Finally, B. Riley cut their price target on shares of StarTek from $9.50 to $5.50 in a research note on Friday, March 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.38.

Several hedge funds and other institutional investors have recently bought and sold shares of SRT. Allspring Global Investments Holdings LLC acquired a new stake in StarTek in the 4th quarter valued at about $336,000. Barclays PLC lifted its stake in StarTek by 29.3% in the 3rd quarter. Barclays PLC now owns 20,447 shares of the business services provider’s stock valued at $113,000 after purchasing an additional 4,631 shares during the last quarter. Morgan Stanley lifted its stake in StarTek by 582.6% in the 2nd quarter. Morgan Stanley now owns 7,823 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 6,677 shares during the last quarter. Marshall Wace LLP acquired a new stake in StarTek in the 4th quarter valued at about $52,000. Finally, Meeder Asset Management Inc. acquired a new stake in StarTek in the 1st quarter valued at about $41,000. Institutional investors own 16.56% of the company’s stock.

StarTek stock opened at $4.13 on Friday. The company’s 50 day simple moving average is $3.82 and its 200 day simple moving average is $4.36. StarTek has a fifty-two week low of $2.69 and a fifty-two week high of $7.81. The firm has a market capitalization of $166.42 million, a price-to-earnings ratio of 13.77 and a beta of 1.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.55 and a quick ratio of 1.55.

About StarTek (Get Rating)

StarTek, Inc, a business process outsourcing company, provides customer experience, digital transformation, and technology services in various markets. The company primarily offers customer engagement, omnichannel engagement, social media, customer intelligence analytics, work from home, and back-office services under the Startek and Aegis brands.

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