Jones Lang LaSalle (NYSE:JLL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, February 5th. The firm currently has a $170.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 7.29% from the company’s previous close.
According to Zacks, “Shares of JLL have outperformed the industry it belongs to in the past three months. Further, the stock has seen the Zacks Consensus Estimates for 2018 earnings being revised upward in a month’s time. Notably, the company’s diversified product & services range is expected to enable the company to register balanced revenue growth across its operating markets. In fact, vast knowledge of real estate markets and a spate of strategic investment activities in a bid to capitalize on market consolidations are anticipated to drive long-term profitability. Its superior operating platform and market share expansion will aid JLL to achieve strong growth, as well as a decent cash level. However, unfavorable currency movements and a stiff competition from international, regional and local players are concerns.”
A number of other research firms have also commented on JLL. William Blair restated an “outperform” rating on shares of Jones Lang LaSalle in a research note on Friday, February 2nd. JMP Securities lowered shares of Jones Lang LaSalle from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 24th. Royal Bank of Canada lowered shares of Jones Lang LaSalle from an “outperform” rating to a “sector perform” rating in a research note on Thursday, October 12th. ValuEngine upgraded shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Finally, Barclays upped their target price on shares of Jones Lang LaSalle from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $151.38.
Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $4.92 earnings per share for the quarter, beating analysts’ consensus estimates of $4.22 by $0.70. Jones Lang LaSalle had a net margin of 3.20% and a return on equity of 13.55%. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the company earned $3.95 earnings per share. Jones Lang LaSalle’s quarterly revenue was up 17.5% compared to the same quarter last year. sell-side analysts expect that Jones Lang LaSalle will post 9.85 earnings per share for the current year.
In related news, Director Martin H. Nesbitt sold 6,701 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $149.32, for a total transaction of $1,000,593.32. Following the completion of the transaction, the director now owns 35 shares of the company’s stock, valued at $5,226.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC grew its holdings in Jones Lang LaSalle by 814.6% during the 4th quarter. Advisory Services Network LLC now owns 814 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 725 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in Jones Lang LaSalle during the 4th quarter valued at $223,000. TradeLink Capital LLC bought a new position in Jones Lang LaSalle during the 4th quarter valued at $238,000. M&T Bank Corp bought a new position in Jones Lang LaSalle during the 2nd quarter valued at $206,000. Finally, Parametrica Management Ltd bought a new position in shares of Jones Lang LaSalle in the 3rd quarter worth about $212,000. 90.77% of the stock is owned by institutional investors and hedge funds.
Jones Lang LaSalle Company Profile
Jones Lang LaSalle Incorporated (JLL) is a financial and professional services company specializing in real estate. The Company operates through four business segments: Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and LaSalle. It offers integrated services on a local, regional and global basis to owner, occupier, investor and developer clients.
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