Jones Lang LaSalle (NYSE:JLL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, February 2nd.
According to Zacks, “Shares of JLL have outperformed the industry it belongs to in the past three months. However, the stock has seen the Zacks Consensus Estimates for fourth-quarter 2017 earnings being revised downward in a week’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 recently issued reports on JLL. ValuEngine upgraded shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. 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. Barclays increased 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 note on Tuesday, January 30th. JMP Securities downgraded shares of Jones Lang LaSalle from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 24th. Finally, William Blair restated an “outperform” rating on shares of Jones Lang LaSalle in a report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $151.38.
Shares of Jones Lang LaSalle (NYSE JLL) traded down $1.12 during mid-day trading on Friday, reaching $149.10. 26,738 shares of the company’s stock traded hands, compared to its average volume of 261,956. The company has a quick ratio of 1.60, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. Jones Lang LaSalle has a 12-month low of $101.83 and a 12-month high of $158.82. The firm has a market cap of $6,816.06, a price-to-earnings ratio of 26.88, a P/E/G ratio of 1.42 and a beta of 1.85.
Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $4.92 EPS for the quarter, beating analysts’ consensus estimates of $4.22 by $0.70. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.29 billion. Jones Lang LaSalle had a net margin of 3.20% and a return on equity of 13.55%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.95 EPS. equities analysts expect that Jones Lang LaSalle will post 9.62 earnings per share for the current fiscal year.
In other Jones Lang LaSalle news, CEO Jeff A. Jacobson sold 6,713 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $147.42, for a total value of $989,630.46. Following the completion of the transaction, the chief executive officer now owns 4,489 shares of the company’s stock, valued at approximately $661,768.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin H. Nesbitt sold 6,701 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $149.32, for a total value of $1,000,593.32. Following the completion of the transaction, the director now directly owns 35 shares of the company’s stock, valued at approximately $5,226.20. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its position in shares of 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 during the last quarter. Levin Capital Strategies L.P. bought a new position in shares of Jones Lang LaSalle during the 4th quarter valued at approximately $223,000. TradeLink Capital LLC bought a new position in Jones Lang LaSalle in the 4th quarter worth approximately $238,000. M&T Bank Corp bought a new position in Jones Lang LaSalle in the 2nd quarter worth approximately $206,000. Finally, Parametrica Management Ltd bought a new position in Jones Lang LaSalle in the 3rd quarter worth approximately $212,000. 90.77% of the stock is owned by hedge funds and other institutional investors.
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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