Jones Lang LaSalle Inc. (JLL) to Post Q3 2016 Earnings of $1.93 Per Share, William Blair Forecasts
Jones Lang LaSalle Inc. (NYSE:JLL) – Analysts at William Blair decreased their Q3 2016 earnings per share estimates for shares of Jones Lang LaSalle in a research report issued on Sunday. William Blair analyst B. Dobell now expects that the firm will earn $1.93 per share for the quarter, down from their previous forecast of $2.09.
Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.09. Jones Lang LaSalle had a net margin of 6.50% and a return on equity of 16.44%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. Jones Lang LaSalle’s revenue was up 16.7% compared to the same quarter last year.
Several other brokerages also recently commented on JLL. Barclays PLC reduced their target price on shares of Jones Lang LaSalle from $136.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, August 18th. TheStreet upgraded shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Zacks Investment Research upgraded shares of Jones Lang LaSalle from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Keefe, Bruyette & Woods lifted their price objective on shares of Jones Lang LaSalle from $124.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Finally, Wedbush initiated coverage on shares of Jones Lang LaSalle in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $126.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $145.33.
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Jones Lang LaSalle (NYSE:JLL) traded up 1.52% during mid-day trading on Wednesday, hitting $102.51. 268,397 shares of the stock traded hands. The stock has a market capitalization of $4.63 billion, a PE ratio of 11.35 and a beta of 1.85. The company has a 50 day moving average price of $113.89 and a 200-day moving average price of $113.05. Jones Lang LaSalle has a one year low of $90.07 and a one year high of $171.63.
Institutional investors have recently modified their holdings of the stock. Tredje AP fonden boosted its position in shares of Jones Lang LaSalle by 566.7% in the second quarter. Tredje AP fonden now owns 1,200 shares of the company’s stock valued at $117,000 after buying an additional 1,020 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Jones Lang LaSalle by 0.5% in the second quarter. Synovus Financial Corp now owns 1,541 shares of the company’s stock valued at $148,000 after buying an additional 8 shares during the last quarter. JNBA Financial Advisors purchased a new position in shares of Jones Lang LaSalle during the second quarter valued at approximately $190,000. Tower Research Capital LLC TRC purchased a new position in shares of Jones Lang LaSalle during the second quarter valued at approximately $200,000. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Jones Lang LaSalle during the first quarter valued at approximately $204,000. Institutional investors own 88.39% of the company’s stock.
In other news, Director Sheila A. Penrose sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $115.00, for a total value of $115,000.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is currently owned by insiders.
About Jones Lang LaSalle
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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