Jones Lang LaSalle Inc (JLL) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Jones Lang LaSalle Inc (NYSE:JLL) from a hold rating to a sell rating in a research report sent to investors on Wednesday, April 19th.

According to Zacks, “JLL is expected to report first-quarter 2017 results on May 5. The shares of the company outperformed the Zacks categorized Real Estate-Operations industry over the past six months. However, its earnings per share estimate for full year 2017, moved down over the past 7 days. In fact, uneasiness in certain global economies, unfavorable currency movements, stiff competition from international, regional and local players remain concerns for the company. However, the company’s diversified product & services range, vast knowledge of domestic and international real estate markets and a spate of strategic investment activities have the capability to drive its bottom line.”

Several other analysts have also recently issued reports on the stock. Wedbush reaffirmed a neutral rating and set a $115.00 price objective on shares of Jones Lang LaSalle in a research note on Monday, April 17th. William Blair raised shares of Jones Lang LaSalle from a market perform rating to an outperform rating in a research note on Friday, March 24th. Finally, Barclays PLC reaffirmed an overweight rating and set a $123.00 price objective (up previously from $119.00) on shares of Jones Lang LaSalle in a research note on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Jones Lang LaSalle currently has a consensus rating of Buy and an average target price of $126.83.

Jones Lang LaSalle (NYSE:JLL) traded up 1.41% during midday trading on Wednesday, hitting $112.10. The stock had a trading volume of 194,697 shares. The stock’s 50-day moving average is $111.82 and its 200-day moving average is $106.57. The company has a market capitalization of $5.08 billion, a PE ratio of 16.85 and a beta of 1.67. Jones Lang LaSalle has a 1-year low of $86.62 and a 1-year high of $126.80.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Friday, May 5th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Jones Lang LaSalle had a net margin of 4.68% and a return on equity of 13.14%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 earnings per share. Equities research analysts forecast that Jones Lang LaSalle will post $7.99 EPS for the current year.

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The company also recently announced a semiannual dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, May 15th will be issued a $0.35 dividend. This represents a yield of 0.57%. This is a positive change from Jones Lang LaSalle’s previous semiannual dividend of $0.33. The ex-dividend date is Thursday, May 11th. Jones Lang LaSalle’s payout ratio is presently 9.48%.

In other Jones Lang LaSalle news, Director Sheila A. Penrose sold 1,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $115.44, for a total value of $115,440.00. Following the transaction, the director now directly owns 48,847 shares in the company, valued at approximately $5,638,897.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.68% of the company’s stock.

A number of institutional investors have recently bought and sold shares of JLL. Sumitomo Mitsui Trust Holdings Inc. raised its position in Jones Lang LaSalle by 0.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 144,084 shares of the financial services provider’s stock valued at $16,395,000 after buying an additional 405 shares during the last quarter. Comerica Bank raised its position in Jones Lang LaSalle by 6.2% in the fourth quarter. Comerica Bank now owns 34,024 shares of the financial services provider’s stock valued at $3,633,000 after buying an additional 2,001 shares during the last quarter. William Blair Investment Management LLC raised its position in Jones Lang LaSalle by 0.9% in the fourth quarter. William Blair Investment Management LLC now owns 531,180 shares of the financial services provider’s stock valued at $53,670,000 after buying an additional 4,634 shares during the last quarter. BlackRock Fund Advisors raised its position in Jones Lang LaSalle by 5.0% in the third quarter. BlackRock Fund Advisors now owns 1,986,803 shares of the financial services provider’s stock valued at $226,078,000 after buying an additional 95,293 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Jones Lang LaSalle by 3.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 65,699 shares of the financial services provider’s stock valued at $6,638,000 after buying an additional 2,491 shares during the last quarter. Institutional investors own 89.27% of the company’s stock.

About Jones Lang LaSalle

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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