Wedbush Analysts Cut Earnings Estimates for Jones Lang LaSalle Inc. (JLL)
Jones Lang LaSalle Inc. (NYSE:JLL) – Wedbush cut their Q3 2016 earnings per share estimates for Jones Lang LaSalle in a report issued on Monday. Wedbush analyst J. Weaver now forecasts that the brokerage will post earnings of $2.04 per share for the quarter, down from their prior forecast of $2.31. 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 $4.42 EPS, Q2 2017 earnings at $2.23 EPS, Q3 2017 earnings at $2.47 EPS, Q4 2017 earnings at $4.41 EPS and FY2018 earnings at $10.21 EPS.
Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Tuesday, August 2nd. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.09. Jones Lang LaSalle had a net margin of 6.50% and a return on equity of 16.44%. The business earned $1.60 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm earned $2.05 earnings per share. Jones Lang LaSalle’s quarterly revenue was up 16.7% on a year-over-year basis.
A number of other research firms have also recently commented on JLL. Barclays PLC cut their price target 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. TheStreet raised shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Zacks Investment Research raised shares of Jones Lang LaSalle from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Finally, Keefe, Bruyette & Woods boosted their price target 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $145.33.
Jones Lang LaSalle (NYSE:JLL) opened at 101.17 on Tuesday. The company has a market cap of $4.57 billion, a P/E ratio of 11.20 and a beta of 1.85. The company’s 50-day moving average is $111.82 and its 200-day moving average is $112.50. Jones Lang LaSalle has a 52 week low of $90.07 and a 52 week high of $171.63.
In other Jones Lang LaSalle news, Director Sheila A. Penrose sold 1,000 shares of Jones Lang LaSalle stock in a transaction on Monday, September 19th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the completion of 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.68% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of JLL. Generation Investment Management LLP raised its position in Jones Lang LaSalle by 87.3% in the second quarter. Generation Investment Management LLP now owns 2,212,726 shares of the company’s stock valued at $215,630,000 after buying an additional 1,031,500 shares during the last quarter. Harris Associates L P raised its position in Jones Lang LaSalle by 81.0% in the second quarter. Harris Associates L P now owns 1,334,805 shares of the company’s stock valued at $130,076,000 after buying an additional 597,310 shares during the last quarter. Vulcan Value Partners LLC purchased a new position in Jones Lang LaSalle during the second quarter valued at approximately $54,020,000. Atlanta Capital Management Co. L L C raised its position in Jones Lang LaSalle by 50.3% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,167,777 shares of the company’s stock valued at $113,800,000 after buying an additional 390,947 shares during the last quarter. Finally, TPG Group Holdings SBS Advisors Inc. purchased a new position in Jones Lang LaSalle during the second quarter valued at approximately $32,969,000. 88.36% of the stock is owned by institutional investors.
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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