We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Xerox (XRX) Gets Shareholders' Approval for Reorganization
Read MoreHide Full Article
Xerox Corporation (XRX - Free Report) announced yesterday that it has got shareholders’ approval for reorganization as a wholly-owned subsidiary of a new holding company. The company previously unveiled this reorganization plan in March.
The proposal got favorable votes from holders of around 99.7% of common shares present and voting at Xerox’s annual meeting, representing around 77% of the company’s total outstanding common shares.
The reorganization remains subject to customary closing conditions such as without limitation and receipt of approval from the Financial Conduct Authority of the United Kingdom. Xerox aims to complete the process by the end of the third quarter of 2019.
Shares of the new holding company is expected to trade under Xerox’s current ticker “XRX” on the New York Stock Exchange.
Efficiency Improvement
Xerox stated earlier that the move is aimed at attaining greater strategic, operational as well as financial flexibility and does not involve any change in operations, directors and executive officers.
We believe that the move will help the company protect patents, reduce tax bill and diversify businesses efficiently. It will complement its Strategic Transformation program to achieve productivity and cost reduction, and aggressive product development efforts.
Shares of Xerox have gained a massive 66.5% year to date, substantially outperforming the 36.7% rally of the industry it belongs to.
A few other top-ranked stocks in the broader Zacks Business Services sector include Navigant Consulting , WEX (WEX - Free Report) and FLEETCOR Technologies . While Navigant Consulting sports a Zacks Rank #1, WEX and FLEETCOR carry a Zacks Rank #2.
Long-term expected EPS (three to five years) growth rate for Navigant Consulting, WEX and FLEETCOR is 13.5%, 15% and 16.5%, respectively.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
Image: Bigstock
Xerox (XRX) Gets Shareholders' Approval for Reorganization
Xerox Corporation (XRX - Free Report) announced yesterday that it has got shareholders’ approval for reorganization as a wholly-owned subsidiary of a new holding company. The company previously unveiled this reorganization plan in March.
The proposal got favorable votes from holders of around 99.7% of common shares present and voting at Xerox’s annual meeting, representing around 77% of the company’s total outstanding common shares.
The reorganization remains subject to customary closing conditions such as without limitation and receipt of approval from the Financial Conduct Authority of the United Kingdom. Xerox aims to complete the process by the end of the third quarter of 2019.
Shares of the new holding company is expected to trade under Xerox’s current ticker “XRX” on the New York Stock Exchange.
Efficiency Improvement
Xerox stated earlier that the move is aimed at attaining greater strategic, operational as well as financial flexibility and does not involve any change in operations, directors and executive officers.
We believe that the move will help the company protect patents, reduce tax bill and diversify businesses efficiently. It will complement its Strategic Transformation program to achieve productivity and cost reduction, and aggressive product development efforts.
Shares of Xerox have gained a massive 66.5% year to date, substantially outperforming the 36.7% rally of the industry it belongs to.
Zacks Rank & Other Stocks to Consider
Currently, Xerox is a Zacks Rank #2 (Buy) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few other top-ranked stocks in the broader Zacks Business Services sector include Navigant Consulting , WEX (WEX - Free Report) and FLEETCOR Technologies . While Navigant Consulting sports a Zacks Rank #1, WEX and FLEETCOR carry a Zacks Rank #2.
Long-term expected EPS (three to five years) growth rate for Navigant Consulting, WEX and FLEETCOR is 13.5%, 15% and 16.5%, respectively.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>