Wedbush Research Analysts Lower Earnings Estimates for Jones Lang LaSalle Inc. (JLL)
Jones Lang LaSalle Inc. (NYSE:JLL) – Equities research analysts at Wedbush decreased their Q3 2016 earnings per share (EPS) estimates for Jones Lang LaSalle in a note issued to 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 forecast of $2.31. Wedbush has a “Neutral” rating and a $126.00 price target 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.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Jones Lang LaSalle from a “sell” rating to a “hold” rating in a report on Monday, September 12th. TheStreet upgraded shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. Barclays PLC reduced 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 raised 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Jones Lang LaSalle currently has a consensus rating of “Buy” and a consensus target price of $145.33.
Shares of Jones Lang LaSalle (NYSE:JLL) traded up 0.69% during midday trading on Tuesday, hitting $101.64. 82,323 shares of the stock were exchanged. The company has a market cap of $4.59 billion, a PE ratio of 11.25 and a beta of 1.85. The stock has a 50 day moving average price of $112.26 and a 200-day moving average price of $112.63. Jones Lang LaSalle has a 12 month low of $90.07 and a 12 month high of $171.63.
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Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.09. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.47 billion. Jones Lang LaSalle had a net margin of 6.50% and a return on equity of 16.44%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 earnings per share.
A number of institutional investors have recently made changes to their positions in the company. Generation Investment Management LLP boosted its position in shares of Jones Lang LaSalle by 87.3% in the second quarter. Generation Investment Management LLP now owns 2,212,726 shares of the company’s stock worth $215,630,000 after buying an additional 1,031,500 shares during the last quarter. Harris Associates L P raised its position in Jones Lang LaSalle by 81.0% in the second quarter. Harris Associates L P now owns 1,334,805 shares of the company’s stock worth $130,076,000 after buying an additional 597,310 shares in the last quarter. Vulcan Value Partners LLC bought a new position in shares of Jones Lang LaSalle during the second quarter valued at approximately $54,020,000. Atlanta Capital Management Co. L L C raised its position in shares of Jones Lang LaSalle by 50.3% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,167,777 shares of the company’s stock valued at $113,800,000 after buying an additional 390,947 shares during the period. Finally, TPG Group Holdings SBS Advisors Inc. bought a new position in shares of Jones Lang LaSalle during the second quarter valued at approximately $32,969,000. Institutional investors own 88.36% of the company’s stock.
In other Jones Lang LaSalle news, Director Sheila A. Penrose sold 1,000 shares of Jones Lang LaSalle stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the completion of the transaction, the director now owns 50,416 shares in the company, valued at $5,797,840. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.
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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