Jones Lang LaSalle Incorporated (JLL) Stock Rating Upgraded by Zacks Investment Research
Jones Lang LaSalle Incorporated (NYSE:JLL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Over the past three months, the shares of JLL outperformed the Zacks categorized Real Estate-Operations industry. In May, the company inked a new deal with the State of Tennessee for better management of the state-owned properties. In early May, JLL reported better-than-expected adjusted earnings per share for first-quarter 2017. The quarter reflected robust growth in revenues and a rise in market share. Notably, the company’s diversified product & services range, vast knowledge of real estate markets and a spate of strategic investment activities are expected to drive growth. The company continues to invest opportunistically to capitalize on market consolidations. Its superior operating platform and market share expansion have helped it achieve strong growth as well as a decent cash level. But, unfavorable currency movements and a stiff competition from international, regional and local players are concerns.”
Other equities analysts have also issued reports about the stock. Barclays PLC upped their price objective on shares of Jones Lang LaSalle from $123.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, June 9th. ValuEngine lowered shares of Jones Lang LaSalle from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $120.00 price objective on shares of Jones Lang LaSalle in a report on Friday, June 9th. Bank of America Corporation restated a “buy” rating and issued a $140.00 price objective on shares of Jones Lang LaSalle in a report on Monday, May 8th. Finally, JMP Securities upped their price objective on shares of Jones Lang LaSalle from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $127.40.
Jones Lang LaSalle (JLL) traded down 0.80% during mid-day trading on Monday, hitting $119.36. 116,828 shares of the stock traded hands. The stock has a 50-day moving average price of $116.70 and a 200-day moving average price of $109.50. The stock has a market cap of $5.41 billion, a P/E ratio of 17.94 and a beta of 1.76. Jones Lang LaSalle has a 12 month low of $86.62 and a 12 month high of $126.80.
Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings data on Friday, May 5th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.38 by $0.07. Jones Lang LaSalle had a net margin of 4.28% and a return on equity of 12.44%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, equities analysts forecast that Jones Lang LaSalle will post $7.98 earnings per share for the current year.
The firm also recently announced a semiannual dividend, which was paid on Thursday, June 15th. Shareholders of record on Monday, May 15th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, May 11th. This is a positive change from Jones Lang LaSalle’s previous semiannual dividend of $0.33. This represents a yield of 0.57%. Jones Lang LaSalle’s dividend payout ratio is 10.54%.
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In other Jones Lang LaSalle news, Director Sheila A. Penrose sold 1,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $115.44, for a total transaction of $115,440.00. Following the sale, the director now directly owns 48,847 shares in the company, valued at approximately $5,638,897.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.72% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in Jones Lang LaSalle by 679.3% in the first quarter. IFP Advisors Inc now owns 904 shares of the financial services provider’s stock worth $101,000 after buying an additional 788 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Jones Lang LaSalle by 5.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,172 shares of the financial services provider’s stock worth $122,000 after buying an additional 58 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in Jones Lang LaSalle by 9.1% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,200 shares of the financial services provider’s stock worth $134,000 after buying an additional 100 shares during the period. Robecosam AG raised its stake in Jones Lang LaSalle by 25.0% in the first quarter. Robecosam AG now owns 1,250 shares of the financial services provider’s stock worth $138,000 after buying an additional 250 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Jones Lang LaSalle by 18.2% in the first quarter. Daiwa Securities Group Inc. now owns 1,300 shares of the financial services provider’s stock worth $145,000 after buying an additional 200 shares during the period. Institutional investors own 88.83% of the company’s stock.
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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