$160.34 Million in Sales Expected for StarTek, Inc. (NYSE:SRT) This Quarter

Analysts forecast that StarTek, Inc. (NYSE:SRTGet Rating) will post sales of $160.34 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for StarTek’s earnings. The lowest sales estimate is $160.00 million and the highest is $160.68 million. StarTek posted sales of $189.03 million during the same quarter last year, which suggests a negative year-over-year growth rate of 15.2%. The business is scheduled to report its next 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 year, with estimates ranging from $674.82 million to $682.51 million. For the next year, analysts forecast that the firm 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 analysts that cover StarTek.

StarTek (NYSE:SRTGet Rating) last issued its quarterly earnings results 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 net margin of 1.75% and a return on equity of 4.97%. The firm had revenue of $167.32 million for the quarter, compared to analysts’ expectations of $168.39 million. During the same period in the prior year, the firm earned ($0.03) EPS.

Several equities research analysts have recently issued reports on SRT shares. StockNews.com cut shares of StarTek from a “buy” rating to a “hold” rating in a research report on Monday. Barrington Research reduced their price objective on shares of StarTek from $8.00 to $6.00 in a research report on Friday, March 11th. Finally, B. Riley reduced their price target on shares of StarTek from $9.50 to $5.50 in a research report on Friday, March 11th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.38.

Shares of NYSE:SRT opened at $3.24 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.55 and a quick ratio of 1.55. StarTek has a 1-year low of $2.69 and a 1-year high of $8.10. The company has a market capitalization of $130.56 million, a P/E ratio of 10.80 and a beta of 1.49. The firm’s 50 day simple moving average is $4.04 and its two-hundred day simple moving average is $4.52.

A number of hedge funds have recently bought and sold shares of SRT. Beryl Capital Management LLC bought a new position in StarTek during the fourth quarter valued at $1,190,000. Wells Fargo & Company MN increased its position in StarTek by 1,861.5% during the second quarter. Wells Fargo & Company MN now owns 119,651 shares of the business services provider’s stock valued at $852,000 after acquiring an additional 113,551 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in StarTek during the fourth quarter valued at $336,000. AXS Investments LLC bought a new position in StarTek during the fourth quarter valued at $219,000. Finally, Strs Ohio increased its position in StarTek by 86.4% during the first quarter. Strs Ohio now owns 61,500 shares of the business services provider’s stock valued at $272,000 after acquiring an additional 28,500 shares during the last quarter. Institutional investors and hedge funds own 16.56% of the company’s stock.

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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