Jones Lang LaSalle (JLL) Upgraded to Hold at Zacks Investment Research
Jones Lang LaSalle (NYSE:JLL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday, September 21st.
According to Zacks, “Shares of Jones Lang LaSalle, better known as JLL have outperformed the industry it belongs to in the past year. Notably, the diversified product & services range of the company is expected to enable it to register balanced revenue growth across its operating markets. In fact, vast knowledge of real estate markets and a spate of strategic investment activities, in a bid to capitalize on market consolidations, are anticipated to drive long-term profitability. Also, market share expansion will aid JLL to achieve a decent cash level. However, unfavorable currency movements and interest rate hikes may negatively impact the company’s performance. Further, stiff competition from international, regional and local players remains a concern. Additionally, the intensifying uncertainty in the global economic environment is expected to hinder the company’s growth.”
Separately, ValuEngine cut shares of Jones Lang LaSalle from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $179.17.
Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.05. The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Jones Lang LaSalle had a net margin of 2.62% and a return on equity of 13.84%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $2.17 EPS. As a group, analysts forecast that Jones Lang LaSalle will post 10.26 EPS for the current fiscal year.
In other news, CEO Guy Grainger sold 200 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $154.94, for a total transaction of $30,988.00. Following the transaction, the chief executive officer now owns 1,341 shares in the company, valued at approximately $207,774.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.63% of the company’s stock.
Several large investors have recently made changes to their positions in JLL. American Century Companies Inc. lifted its position in shares of Jones Lang LaSalle by 233.6% during the 2nd quarter. American Century Companies Inc. now owns 280,550 shares of the financial services provider’s stock valued at $46,568,000 after buying an additional 196,456 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Jones Lang LaSalle by 28.3% during the 2nd quarter. Janus Henderson Group PLC now owns 880,093 shares of the financial services provider’s stock valued at $146,087,000 after buying an additional 194,296 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Jones Lang LaSalle by 153.8% during the 2nd quarter. Wells Fargo & Company MN now owns 267,364 shares of the financial services provider’s stock valued at $44,380,000 after buying an additional 162,016 shares in the last quarter. Morgan Stanley lifted its holdings in Jones Lang LaSalle by 73.0% in the 2nd quarter. Morgan Stanley now owns 363,459 shares of the financial services provider’s stock valued at $60,330,000 after purchasing an additional 153,317 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Jones Lang LaSalle by 3.0% in the 2nd quarter. BlackRock Inc. now owns 4,929,817 shares of the financial services provider’s stock valued at $818,299,000 after purchasing an additional 143,843 shares in the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, project and development management/construction, capital markets, property management, corporate finance, real estate investment banking/merchant banking, energy and sustainability, research, facility management outsourcing, strategic consulting, technology solutions, advisory, investment management, tenant representation, lease administration, transaction management, logistics and supply-chain management, valuations, and mortgage origination and servicing.
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