Jones Lang LaSalle (NYSE:JLL) Sets New 52-Week High on Earnings Beat

Jones Lang LaSalle Incorporated (NYSE:JLL)’s stock price hit a new 52-week high during mid-day trading on Monday following a stronger than expected earnings report. The company traded as high as $200.73 and last traded at $194.15, with a volume of 102560 shares changing hands. The stock had previously closed at $185.52.

The financial services provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.93. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Jones Lang LaSalle had a net margin of 1.09% and a return on equity of 5.74%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS.

Analyst Upgrades and Downgrades

Several research firms have weighed in on JLL. Raymond James upgraded shares of Jones Lang LaSalle from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $218.00 to $246.00 in a research note on Wednesday, April 3rd. StockNews.com upgraded shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. TheStreet upgraded shares of Jones Lang LaSalle from a “c+” rating to a “b-” rating in a research note on Wednesday, February 14th. Wolfe Research reiterated a “peer perform” rating on shares of Jones Lang LaSalle in a research note on Tuesday, April 9th. Finally, Jefferies Financial Group assumed coverage on shares of Jones Lang LaSalle in a research note on Wednesday, April 10th. They issued a “buy” rating and a $246.00 target price on the stock. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.00.

Hedge Funds Weigh In On Jones Lang LaSalle

Institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in Jones Lang LaSalle during the first quarter worth about $202,000. Texas Permanent School Fund Corp boosted its stake in Jones Lang LaSalle by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 41,635 shares of the financial services provider’s stock valued at $8,123,000 after buying an additional 556 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Jones Lang LaSalle in the first quarter worth about $525,000. Hunter Associates Investment Management LLC acquired a new position in Jones Lang LaSalle during the 1st quarter worth approximately $1,486,000. Finally, Janney Montgomery Scott LLC lifted its stake in Jones Lang LaSalle by 1.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,607 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 96 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Jones Lang LaSalle Price Performance

The business’s 50-day simple moving average is $186.47 and its two-hundred day simple moving average is $173.43. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 41.08 and a beta of 1.43. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.94 and a quick ratio of 1.94.

About Jones Lang LaSalle

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.