Wedbush Analysts Cut Earnings Estimates for Jones Lang LaSalle Inc. (JLL)
Jones Lang LaSalle Inc. (NYSE:JLL) – Stock analysts at Wedbush decreased their Q3 2016 earnings estimates for Jones Lang LaSalle in a research report issued to clients and investors on Monday. Wedbush analyst J. Weaver now anticipates that the firm will post earnings per share of $2.04 for the quarter, down from their previous estimate of $2.31. Wedbush currently has a “Neutral” rating and a $126.00 target price on the stock. Wedbush also issued estimates for Jones Lang LaSalle’s Q4 2016 earnings at $4.42 EPS, Q2 2017 earnings at $2.23 EPS, Q3 2017 earnings at $2.47 EPS, Q4 2017 earnings at $4.41 EPS and FY2018 earnings at $10.21 EPS.
Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.09. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Jones Lang LaSalle had a net margin of 6.50% and a return on equity of 16.44%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 earnings per share.
Several other equities analysts also recently issued reports on the stock. TheStreet upgraded shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. Zacks Investment Research downgraded shares of Jones Lang LaSalle from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Barclays PLC cut their price objective on shares of Jones Lang LaSalle from $136.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, August 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Jones Lang LaSalle from $124.00 to $129.00 and gave the company an “outperform” rating in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Jones Lang LaSalle presently has a consensus rating of “Buy” and an average target price of $145.33.
Shares of Jones Lang LaSalle (NYSE:JLL) opened at 101.17 on Tuesday. The stock’s 50 day moving average is $111.82 and its 200 day moving average is $112.50. Jones Lang LaSalle has a 52-week low of $90.07 and a 52-week high of $171.63. The company has a market cap of $4.57 billion, a PE ratio of 11.20 and a beta of 1.85.
In other Jones Lang LaSalle news, Director Sheila A. Penrose sold 1,000 shares of Jones Lang LaSalle stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $115.00, for a total value of $115,000.00. Following the transaction, the director now directly owns 50,416 shares in the company, valued at approximately $5,797,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services Inc increased its position in shares of Jones Lang LaSalle by 5.5% in the first quarter. Commonwealth Equity Services Inc now owns 2,889 shares of the company’s stock valued at $339,000 after buying an additional 150 shares during the period. Ngam Advisors L.P. acquired a new stake in Jones Lang LaSalle during the first quarter worth $1,562,000. Franklin Resources Inc. acquired a new stake in Jones Lang LaSalle during the first quarter worth $434,000. BlackRock Group LTD increased its stake in Jones Lang LaSalle by 8.3% in the first quarter. BlackRock Group LTD now owns 265,387 shares of the company’s stock worth $31,134,000 after buying an additional 20,337 shares during the period. Finally, BlackRock Japan Co. Ltd increased its stake in Jones Lang LaSalle by 21.5% in the first quarter. BlackRock Japan Co. Ltd now owns 79,030 shares of the company’s stock worth $9,272,000 after buying an additional 14,009 shares during the period. Institutional investors own 88.36% of the company’s stock.
Jones Lang LaSalle Company Profile
Jones Lang LaSalle Incorporated (JLL) is a financial and professional services firm specializing in real estate. The Company operates through four business segments: Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and LaSalle. JLL provides real estate services (RES) through three business segments: the Americas, EMEA and Asia Pacific.
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