Zacks Investment Research upgraded shares of Jones Lang LaSalle Incorporated (NYSE:JLL) from a sell rating to a hold rating in a research report sent to 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.”
A number of other research analysts have also commented on JLL. Barclays PLC reiterated an overweight rating and set a $123.00 price objective (up previously from $119.00) on shares of Jones Lang LaSalle in a research note on Friday, March 3rd. William Blair upgraded shares of Jones Lang LaSalle from a market perform rating to an outperform rating in a research note on Friday, March 24th. Wedbush reiterated a neutral rating and set a $115.00 price objective on shares of Jones Lang LaSalle in a research note on Monday, April 17th. JMP Securities raised their price objective on shares of Jones Lang LaSalle from $118.00 to $132.00 and gave the company an outperform rating in a research note on Monday, May 8th. Finally, Bank of America Corporation reiterated a buy rating and set a $140.00 price objective on shares of Jones Lang LaSalle in a research note on Monday, May 8th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $127.40.
Jones Lang LaSalle (NYSE:JLL) traded down 0.46% during trading on Monday, reaching $119.64. The company’s stock had a trading volume of 50,099 shares. Jones Lang LaSalle has a 52 week low of $86.62 and a 52 week high of $126.80. The firm has a 50 day moving average of $116.85 and a 200 day moving average of $109.76. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 17.98 and a beta of 1.76.
Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings data on Friday, May 5th. The financial services provider reported $0.45 EPS for the quarter, beating the Zacks’ 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 business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. Analysts expect that Jones Lang LaSalle will post $7.98 EPS for the current year.
The business also recently disclosed a semiannual dividend, which was paid on Thursday, June 15th. Investors of record on Monday, May 15th were paid a dividend of $0.35 per share. This represents a dividend yield of 0.57%. The ex-dividend date was Thursday, May 11th. This is a positive change from Jones Lang LaSalle’s previous semiannual dividend of $0.33. Jones Lang LaSalle’s dividend payout ratio (DPR) is currently 10.54%.
In related news, Director Sheila A. Penrose sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $120.00, for a total transaction of $120,000.00. Following the transaction, the director now owns 48,342 shares in the company, valued at $5,801,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of JLL. BlackRock Inc. raised its position in Jones Lang LaSalle by 2,744.5% in the first quarter. BlackRock Inc. now owns 4,348,540 shares of the financial services provider’s stock valued at $484,647,000 after buying an additional 4,195,662 shares during the period. Vanguard Group Inc. raised its position in Jones Lang LaSalle by 4.2% in the first quarter. Vanguard Group Inc. now owns 3,710,306 shares of the financial services provider’s stock valued at $413,513,000 after buying an additional 150,310 shares during the period. State Street Corp raised its position in Jones Lang LaSalle by 3.2% in the first quarter. State Street Corp now owns 1,441,208 shares of the financial services provider’s stock valued at $160,620,000 after buying an additional 44,110 shares during the period. Janus Capital Management LLC raised its position in Jones Lang LaSalle by 10.4% in the fourth quarter. Janus Capital Management LLC now owns 1,315,869 shares of the financial services provider’s stock valued at $132,984,000 after buying an additional 123,924 shares during the period. Finally, TCW Group Inc. raised its position in Jones Lang LaSalle by 4.7% in the first quarter. TCW Group Inc. now owns 837,533 shares of the financial services provider’s stock valued at $93,343,000 after buying an additional 37,224 shares during the period. Hedge funds and other 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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