Jones Lang LaSalle (NYSE:JLL) Announces Earnings Results, Beats Estimates By $1.47 EPS

Jones Lang LaSalle (NYSE:JLL) posted its quarterly earnings data on Wednesday. The financial services provider reported $8.71 earnings per share for the quarter, beating analysts’ consensus estimates of $7.24 by $1.47, FiscalAI reports. Jones Lang LaSalle had a net margin of 2.49% and a return on equity of 11.10%. The firm had revenue of $7.61 billion for the quarter, compared to analyst estimates of $7.45 billion. During the same period last year, the firm posted $6.15 EPS. Jones Lang LaSalle’s quarterly revenue was up 11.7% on a year-over-year basis.

Jones Lang LaSalle Stock Performance

NYSE:JLL opened at $303.68 on Wednesday. Jones Lang LaSalle has a 1-year low of $194.36 and a 1-year high of $363.06. The firm has a 50 day simple moving average of $339.18 and a 200-day simple moving average of $316.17. The firm has a market cap of $14.33 billion, a PE ratio of 22.95 and a beta of 1.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.31.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays assumed coverage on Jones Lang LaSalle in a report on Tuesday, December 2nd. They issued an “equal weight” rating and a $351.00 price objective on the stock. The Goldman Sachs Group lifted their price target on Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Wall Street Zen raised Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. UBS Group upped their price target on shares of Jones Lang LaSalle from $360.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Jones Lang LaSalle in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $364.17.

Insider Activity

In other news, CEO Christian Ulbrich sold 96 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $332.18, for a total transaction of $31,889.28. Following the completion of the transaction, the chief executive officer owned 114,685 shares of the company’s stock, valued at $38,096,063.30. This represents a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 20,000 shares of company stock worth $6,609,091 in the last 90 days. 0.91% of the stock is owned by company insiders.

Hedge Funds Weigh In On Jones Lang LaSalle

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Jones Lang LaSalle by 17.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,180,514 shares of the financial services provider’s stock valued at $397,209,000 after purchasing an additional 178,677 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Jones Lang LaSalle by 426.7% in the 4th quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider’s stock worth $302,697,000 after buying an additional 728,824 shares during the period. Alliancebernstein L.P. boosted its holdings in Jones Lang LaSalle by 9.8% in the second quarter. Alliancebernstein L.P. now owns 569,420 shares of the financial services provider’s stock valued at $145,646,000 after acquiring an additional 50,971 shares during the last quarter. Millennium Management LLC grew its position in Jones Lang LaSalle by 4,285.3% during the third quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider’s stock valued at $104,643,000 after acquiring an additional 342,821 shares during the period. Finally, Wellington Management Group LLP increased its stake in Jones Lang LaSalle by 310.0% during the third quarter. Wellington Management Group LLP now owns 290,148 shares of the financial services provider’s stock worth $86,545,000 after acquiring an additional 219,373 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.