Equifax (EFX - Free Report) Canada recently acquired the tailor-made property solutions developer JLR Inc. for an undisclosed amount. The acquisition is aimed at strengthening the company’s foothold in the Canadian mortgage industry.
JLR, engaged in integration and distribution of property data in Quebec, collects and analyzes 700,000 property transactions annually along with municipal assessment rolls, building permits and Statistics Canada censuses.
According to Lisa Nelson, president of Equifax Canada, “This is a strong fit for Equifax Canada and reinforces our strategic focus on delivering innovative products and solutions to the Canadian mortgage industry.”
Equifax continues to make strategic acquisitions to supplement the core business. We believe that the latest buyout will drive the company’s international segment.
Revenues in the segment totaled $235 million in the last reported quarter, down 2% year over year on a reported basis but up 5% on a constant-currency basis. Canada revenues rose 6% year over year on a reported basis and 11% on a local-currency basis.
Share Price Performance
We observe that shares of Equifax have declined 17.6% year to date, against the 9% rise of the industry it belongs to. The cyber attack, through which criminals stole highly-sensitive personal data of approximately 143 million Equifax consumers, has heavily tarnished the brand image, reputation and credibility.
Zacks Rank & Stocks to Consider
Currently, Equifax carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the Zacks Business Services sector are BG Staffing, Inc (BGSF - Free Report) , Booz Allen Hamilton Holding Corporation (BAH - Free Report) and The Interpublic Group of Companies, Inc (IPG - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected EPS (three to five years) growth rate for BG Staffing, Booz Allen and Interpublic is 20%, 14.4%, and 7.6%, respectively.
3 Medical Stocks to Buy Now
The greatest discovery in this century of biology is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating revenue, and cures for a variety of deadly diseases are in the pipeline.
So are big potential profits for early investors. Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it.
See them today for free >>