Jones Lang LaSalle (NYSE:JLL) Announces Earnings Results, Beats Expectations By $0.26 EPS

by · The Markets Daily

Jones Lang LaSalle (NYSE:JLL – Get Free Report) released its quarterly earnings results on Wednesday. The financial services provider reported $4.50 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.26, Zacks reports. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.49 billion. During the same period in the prior year, the company earned $3.50 EPS. Jones Lang LaSalle’s revenue for the quarter was up 10.9% on a year-over-year basis.

Jones Lang LaSalle Trading Down 3.9%

Shares of JLL stock traded down $11.61 during trading hours on Wednesday, reaching $287.43. The company had a trading volume of 715,374 shares, compared to its average volume of 395,563. The company has a 50 day moving average of $304.16 and a 200 day moving average of $268.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market cap of $13.62 billion, a price-to-earnings ratio of 24.71 and a beta of 1.46. Jones Lang LaSalle has a 1-year low of $194.36 and a 1-year high of $322.36.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Jones Lang LaSalle from $317.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. upped their price objective on Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. JMP Securities assumed coverage on Jones Lang LaSalle in a report on Monday, July 21st. They set a “market perform” rating on the stock. Citizens Jmp assumed coverage on Jones Lang LaSalle in a report on Monday, July 21st. They set a “market perform” rating on the stock. Finally, UBS Group upped their price objective on Jones Lang LaSalle from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $338.29.

Get Our Latest Analysis on JLL

Institutional Trading of Jones Lang LaSalle

Several hedge funds have recently added to or reduced their stakes in JLL. Integrated Wealth Concepts LLC acquired a new stake in Jones Lang LaSalle during the 1st quarter worth $546,000. Empowered Funds LLC raised its stake in Jones Lang LaSalle by 203.1% during the 1st quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider’s stock worth $1,003,000 after buying an additional 2,711 shares during the period. EverSource Wealth Advisors LLC raised its stake in Jones Lang LaSalle by 33.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 499 shares of the financial services provider’s stock worth $128,000 after buying an additional 126 shares during the period. Cresset Asset Management LLC raised its stake in Jones Lang LaSalle by 28.4% during the 2nd quarter. Cresset Asset Management LLC now owns 1,673 shares of the financial services provider’s stock worth $428,000 after buying an additional 370 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new stake in Jones Lang LaSalle during the 2nd quarter worth $211,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Jones Lang LaSalle Company Profile

(Get Free Report)

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.

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