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Yahoo BusinessSep 25, 2020
IBEX Rises 3% On Upbeat 4Q Sales Results
Shares of IBEX Limited soared 3.1% in the extended trading session on Thursday after it reported stronger-than-expected 4Q revenues. The customer experience company's 4Q sales increased 14.7% to $100.9 million and surpassed analysts' expectations of $96.2 million.IBEX Limited's (IBEX) adjusted EPS of $0.14 compared favorably with the year-ago quarter's loss per share of $0.07. However, quarterly earnings fell short of the Street estimates $0.16.The company's CEO Bob Dechant said, "Fiscal year 2020 was a milestone year for ibex-delivering record revenues surpassing $400 million, growing net income from continuing operations and increasing Adjusted EBITDA to over $50 million." He further stated, "Based on our expected revenue growth and robust pipeline, we are confident in our ability to accelerate additional customer wins, expand geographically and deliver solid cash flow in 2021."Looking forward, IBEX expects to generate revenues between $431 million and $435 million in fiscal 2021. Moreover, the company projects adjusted EBITDA from continuing operations to be in the range of $59.5-$61 million. (See IBEX stock analysis on TipRanks).On September 11, Piper Sandler analyst Arvind Ramnani reiterated a Buy rating on IBEX and a price target of $20 (84% upside potential). In a note to investors, Ramnani said that the IBEX business model is highly resilient given the company's stable client base and long duration contracts.Currently, the Street has a bullish outlook on the stock. The Strong Buy analyst consensus is based on 5 Buy ratings. The average price targe
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