Jones Lang LaSalle (NYSE:JLL) Issues Earnings Results

Jones Lang LaSalle (NYSE:JLL) released its earnings results on Wednesday. The financial services provider reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.26, Zacks reports. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.49 billion. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.50 EPS.

Jones Lang LaSalle Stock Down 3.9%

Shares of NYSE JLL traded down $11.61 during mid-day trading on Wednesday, hitting $287.43. The company had a trading volume of 715,374 shares, compared to its average volume of 395,563. Jones Lang LaSalle has a one year low of $194.36 and a one year high of $322.36. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $13.62 billion, a PE ratio of 24.71 and a beta of 1.46. The firm has a 50-day simple moving average of $304.16 and a two-hundred day simple moving average of $268.66.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on JLL. JPMorgan Chase & Co. increased their target price on Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Keefe, Bruyette & Woods increased their target price on Jones Lang LaSalle from $317.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Citizens Jmp began coverage on Jones Lang LaSalle in a report on Monday, July 21st. They set a “market perform” rating for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jones Lang LaSalle in a report on Wednesday, October 8th. Finally, JMP Securities started coverage on Jones Lang LaSalle in a report on Monday, July 21st. They set a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $338.29.

Hedge Funds Weigh In On Jones Lang LaSalle

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. grew its holdings in Jones Lang LaSalle by 9.8% during the second quarter. Alliancebernstein L.P. now owns 569,420 shares of the financial services provider’s stock worth $145,646,000 after purchasing an additional 50,971 shares during the period. Canada Pension Plan Investment Board grew its holdings in Jones Lang LaSalle by 6.3% during the second quarter. Canada Pension Plan Investment Board now owns 81,200 shares of the financial services provider’s stock worth $20,769,000 after purchasing an additional 4,800 shares during the period. Squarepoint Ops LLC bought a new position in Jones Lang LaSalle during the second quarter worth about $17,212,000. Holocene Advisors LP bought a new position in Jones Lang LaSalle during the second quarter worth about $16,075,000. Finally, Sei Investments Co. grew its holdings in Jones Lang LaSalle by 35.3% during the second quarter. Sei Investments Co. now owns 44,916 shares of the financial services provider’s stock worth $11,489,000 after purchasing an additional 11,720 shares during the period. Institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Company Profile

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.