Jones Lang LaSalle (JLL) Upgraded to Hold by Zacks Investment Research

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Jones Lang LaSalle (NYSE:JLL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “In August, Jones Lang LaSalle, better known as JLL, delivered second-quarter 2018 adjusted earnings that met the Zacks Consensus Estimate. Results highlight year-over-year growth in revenues. Notably, the company’s diversified product & services range is expected to enable JLL 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. 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 also remains a concern. Also, shares of JLL have underperformed the industry it belongs to in the past six months.”

Separately, ValuEngine downgraded shares of Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 29th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $179.17.

Shares of Jones Lang LaSalle stock traded down $0.34 during trading hours on Monday, reaching $153.17. The company’s stock had a trading volume of 2,917 shares, compared to its average volume of 337,138. Jones Lang LaSalle has a one year low of $115.71 and a one year high of $178.75. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.89 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.34 and a beta of 1.74.

Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Wednesday, August 8th. The financial services provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.05. Jones Lang LaSalle had a net margin of 2.62% and a return on equity of 13.84%. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the firm posted $2.17 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. sell-side analysts expect that Jones Lang LaSalle will post 10.26 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC purchased a new position in shares of Jones Lang LaSalle during the 2nd quarter worth about $172,000. Itau Unibanco Holding S.A. purchased a new position in shares of Jones Lang LaSalle during the 2nd quarter worth about $183,000. IFM Investors Pty Ltd purchased a new position in shares of Jones Lang LaSalle during the 2nd quarter worth about $206,000. Eqis Capital Management Inc. purchased a new position in shares of Jones Lang LaSalle during the 2nd quarter worth about $207,000. Finally, Manning & Napier Group LLC purchased a new position in shares of Jones Lang LaSalle during the 2nd quarter worth about $215,000. 92.72% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Company Profile

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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