Jones Lang LaSalle Inc (NYSE:JLL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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.”
Other analysts have also recently issued reports about the stock. William Blair upgraded shares of Jones Lang LaSalle from a “market perform” rating to an “outperform” rating in a research note on Friday, March 24th. Barclays PLC reiterated an “overweight” rating and issued a $119.00 target price (down from $125.00) on shares of Jones Lang LaSalle in a research note on Monday, January 23rd. Finally, Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of Jones Lang LaSalle in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $122.25.
Shares of Jones Lang LaSalle (NYSE:JLL) opened at 110.91 on Wednesday. Jones Lang LaSalle has a 52 week low of $86.62 and a 52 week high of $125.31. The stock’s 50 day moving average is $109.39 and its 200-day moving average is $104.75. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 15.89 and a beta of 1.67.
Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Monday, February 6th. The financial services provider reported $3.95 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.03. Jones Lang LaSalle had a net margin of 4.68% and a return on equity of 13.14%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the business earned $4.53 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. On average, equities analysts anticipate that Jones Lang LaSalle will post $8.08 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the company. Gulf International Bank UK Ltd raised its position in Jones Lang LaSalle by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 14,400 shares of the financial services provider’s stock worth $1,604,000 after buying an additional 100 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Jones Lang LaSalle by 2.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,488 shares of the financial services provider’s stock worth $738,000 after buying an additional 165 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Jones Lang LaSalle by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,400 shares of the financial services provider’s stock worth $1,271,000 after buying an additional 200 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Jones Lang LaSalle by 4.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,121 shares of the financial services provider’s stock worth $585,000 after buying an additional 227 shares in the last quarter. Finally, Boston Common Asset Management LLC raised its position in Jones Lang LaSalle by 0.5% in the third quarter. Boston Common Asset Management LLC now owns 48,908 shares of the financial services provider’s stock worth $5,565,000 after buying an additional 240 shares in the last quarter. 89.27% of the stock is owned by institutional investors.
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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