Jones Lang LaSalle Inc. (JLL) Forecasted to Earn Q3 2016 Earnings of $2.31 Per Share
Jones Lang LaSalle Inc. (NYSE:JLL) – Equities researchers at Wedbush issued their Q3 2016 earnings estimates for Jones Lang LaSalle in a research note issued to investors on Wednesday. Wedbush analyst J. Weaver expects that the brokerage will earn $2.31 per share for the quarter. Wedbush currently has a “Neutral” rating and a $126.00 price target on the stock. Wedbush also issued estimates for Jones Lang LaSalle’s Q4 2016 earnings at $4.63 EPS, Q1 2017 earnings at $1.08 EPS, Q2 2017 earnings at $2.41 EPS, Q3 2017 earnings at $2.66 EPS, Q4 2017 earnings at $4.71 EPS, FY2017 earnings at $10.86 EPS and FY2018 earnings at $10.95 EPS.
Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.09. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.47 billion. Jones Lang LaSalle had a net margin of 6.50% and a return on equity of 16.44%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 earnings per share.
JLL has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Jones Lang LaSalle from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. TheStreet upgraded shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Barclays PLC cut their target price on shares of Jones Lang LaSalle from $136.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, August 18th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Jones Lang LaSalle from $124.00 to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $145.33.
Jones Lang LaSalle (NYSE:JLL) opened at 104.57 on Monday. The firm has a 50-day moving average of $114.30 and a 200-day moving average of $113.14. Jones Lang LaSalle has a 52-week low of $90.07 and a 52-week high of $171.63. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 11.57 and a beta of 1.85.
Institutional investors have recently added to or reduced their stakes in the company. Tredje AP fonden raised its position in Jones Lang LaSalle by 566.7% in the second quarter. Tredje AP fonden now owns 1,200 shares of the company’s stock worth $117,000 after buying an additional 1,020 shares in the last quarter. Synovus Financial Corp raised its position in Jones Lang LaSalle by 0.5% in the second quarter. Synovus Financial Corp now owns 1,541 shares of the company’s stock worth $148,000 after buying an additional 8 shares in the last quarter. JNBA Financial Advisors acquired a new position in Jones Lang LaSalle during the second quarter worth approximately $190,000. Tower Research Capital LLC TRC acquired a new position in Jones Lang LaSalle during the second quarter worth approximately $200,000. Finally, NN Investment Partners Holdings N.V. acquired a new position in Jones Lang LaSalle during the first quarter worth approximately $204,000. 88.39% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Sheila A. Penrose sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the transaction, the director now directly owns 50,416 shares of the company’s stock, valued at $5,797,840. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.68% of the company’s stock.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated (JLL) is a financial and professional services firm specializing in real estate. The Company operates through four business segments: Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and LaSalle. JLL provides real estate services (RES) through three business segments: the Americas, EMEA and Asia Pacific.
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