IBEX (NASDAQ:IBEX) Announces Earnings Results

IBEX (NASDAQ:IBEX - Get Free Report) posted its earnings results on Thursday. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.09, Zacks reports. The firm had revenue of $126.80 million for the quarter. IBEX had a return on equity of 20.10% and a net margin of 5.79%. During the same quarter in the prior year, the company earned $0.52 EPS. IBEX updated its FY 2024 guidance to EPS.

IBEX Stock Performance

NASDAQ:IBEX traded up $0.74 during mid-day trading on Friday, reaching $14.55. The stock had a trading volume of 51,244 shares, compared to its average volume of 36,468. The stock has a market capitalization of $255.64 million, a P/E ratio of 9.27 and a beta of 0.68. The firm has a 50 day moving average price of $14.45 and a two-hundred day moving average price of $16.35. IBEX has a one year low of $11.45 and a one year high of $23.49.

Insiders Place Their Bets

In related news, insider Jeffrey Hays Cox sold 9,383 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.05, for a total transaction of $150,597.15. Following the completion of the sale, the insider now directly owns 385,251 shares in the company, valued at approximately $6,183,278.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 20.80% of the company's stock.

Analyst Upgrades and Downgrades

IBEX has been the subject of a number of recent analyst reports. TheStreet lowered IBEX from a "b-" rating to a "c+" rating in a report on Wednesday, March 6th. Robert W. Baird lowered their price objective on IBEX from $21.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, April 19th. Piper Sandler reaffirmed a "neutral" rating and issued a $17.00 price target on shares of IBEX in a report on Friday, February 9th. Finally, Truist Financial cut their price objective on IBEX from $25.00 to $22.00 and set a "buy" rating for the company in a report on Friday, February 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $19.20.

About IBEX

IBEX Limited provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally. The company products and services portfolio includes ibex Connect, that offers customer service, technical support, revenue generation, and other revenue generation outsourced back-office services through the CX model, which integrates voice, email, chat, SMS, social media, and other communication applications; ibex Digital, a customer acquisition solution that comprises digital marketing, e-commerce technology, and platform solutions; and ibex CX, a customer experience solution, which provides a suite of proprietary software tools to measure, monitor, and manage its clients' customer experience.

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