Karachi 22 February 2023: TRG Pakistan will announce its December quarterly profit and company will book profit of above PKR 7,600 million on increase in its investment value in IBEX limited. TRG Pakistan is holding 5.4 million shares of IBEX limited and its share prices increased by 34 percent in this quarter.
TRG Pakistan is recognizing change in IBEX Limited share price as a gain or loss in income statement and company can book gain of above Rupees 7,600 million in this quarter. That will result in positive EPS of above Rupees 14 in this quarter if company books no other extraordinary expense.
IBEX Limited (IBEX) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 58.97%. A quarter ago, it was expected that this company would post earnings of $0.29 per share when it actually produced earnings of $0.34, delivering a surprise of 17.24%.
Ahead of this earnings release, the estimate revisions trend for IBEX Limited: mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.38 on $142.23 million in revenues for the coming quarter and $1.47 on $551.81 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Business – Services is currently in the top 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
ZipRecruiter, Inc. (ZIP), another stock in the same industry, has yet to report results for the quarter ended December 2022. The results are expected to be released on February 21.
This company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of -43.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
