In a remarkable display of market resilience, IBEX Holdings Ltd 's stock has soared to a 52-week high, reaching a price level of $21.66. With a market capitalization of $360 million and an impressive P/E ratio of 10.7, this peak signifies a significant turnaround for the company, which has seen its stock value climb by 12.84% over the past year, including a notable 32.5% surge in the past six months. Investors have shown increased confidence in IBEX's strategic direction and growth potential, propelling the stock to this new high. According to InvestingPro analysis, the company maintains a "GREAT" financial health score and appears undervalued based on its Fair Value assessment. The 52-week high serves as a testament to the company's robust performance and the positive sentiment that surrounds its future prospects in the competitive landscape. For deeper insights, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, IBEX Ltd (NASDAQ:IBEX) has made significant strides in its corporate activities and financial performance. The company recently held its annual general meeting, where shareholders approved key decisions, including setting the board of directors' size, electing directors, and appointing Deloitte & Touche LLP as the company's auditor for the upcoming fiscal year.
In a strategic move, IBEX Ltd successfully repurchased approximately 20% of its diluted shares from The Resource Group International, Limited, for a total of $70 million. This has effectively altered the company's ownership structure, ending its status as a "controlled company" under Nasdaq rules. The company's board now consists of a majority of independent directors, aligning with Nasdaq's corporate governance standards.
In terms of financial performance, the company reported a strong start to fiscal year 2025, with record Q1 revenue of $129.7 million, marking a 4.1% increase from the previous year. Adjusted EBITDA rose to $15.6 million, and adjusted EPS increased by 30% to $0.52. In light of these results, the company raised its full-year revenue guidance to between $515 million and $525 million, with adjusted EBITDA expected to reach between $67 million and $69 million.
Finally, the company expanded its higher-margin offshore and nearshore services, which now comprise 76% of total revenue, and launched three new client relationships. These recent developments reflect the company's commitment to growth and shareholder value.
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