Jones Lang LaSalle (JLL) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Jones Lang LaSalle (NYSE:JLL) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
According to Zacks, “Shares of Jones Lang LaSalle, better known as JLL have outperformed the industry it belongs to in the past year. Notably, the diversified product & services range of the company is expected to enable it 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. Also, market share expansion will aid JLL to achieve a decent cash level. However, unfavorable currency movements and interest rate hikes may negatively impact the company’s performance. Further, stiff competition from international, regional and local players remains a concern. Additionally, the intensifying uncertainty in the global economic environment is expected to hinder the company’s growth.”
Separately, ValuEngine cut Jones Lang LaSalle from a buy rating to a hold rating in a report on Wednesday, August 8th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $179.17.
Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Wednesday, August 8th. The financial services provider reported $2.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.05. The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Jones Lang LaSalle had a return on equity of 13.84% and a net margin of 2.62%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.17 EPS. research analysts expect that Jones Lang LaSalle will post 10.26 EPS for the current fiscal year.
In related news, CEO Guy Grainger sold 200 shares of Jones Lang LaSalle stock in a transaction on Monday, August 27th. The stock was sold at an average price of $154.94, for a total value of $30,988.00. Following the transaction, the chief executive officer now directly owns 1,341 shares in the company, valued at approximately $207,774.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Cornerstone Wealth Management LLC purchased a new position in shares of Jones Lang LaSalle during the second quarter valued at $172,000. Itau Unibanco Holding S.A. purchased a new position in shares of Jones Lang LaSalle during the second quarter valued at $183,000. IFM Investors Pty Ltd purchased a new position in shares of Jones Lang LaSalle during the second quarter valued at $206,000. Eqis Capital Management Inc. purchased a new position in shares of Jones Lang LaSalle during the second quarter valued at $207,000. Finally, Manning & Napier Group LLC purchased a new position in shares of Jones Lang LaSalle during the second quarter valued at $215,000. Institutional investors and hedge funds own 93.54% of the company’s stock.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, project and development management/construction, capital markets, property management, corporate finance, real estate investment banking/merchant banking, energy and sustainability, research, facility management outsourcing, strategic consulting, technology solutions, advisory, investment management, tenant representation, lease administration, transaction management, logistics and supply-chain management, valuations, and mortgage origination and servicing.
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