Equities analysts forecast that Jones Lang LaSalle Incorporated (NYSE:JLL) will report $1.79 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Jones Lang LaSalle’s earnings, with the highest sales estimate coming in at $1.80 billion and the lowest estimate coming in at $1.77 billion. Jones Lang LaSalle posted sales of $1.60 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 11.9%. The company is scheduled to issue its next earnings results before the market opens on Wednesday, August 2nd.
According to Zacks, analysts expect that Jones Lang LaSalle will report full-year sales of $1.79 billion for the current year, with estimates ranging from $7.54 billion to $7.87 billion. For the next fiscal year, analysts anticipate that the company will report sales of $8.15 billion per share, with estimates ranging from $7.76 billion to $8.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Jones Lang LaSalle.
Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings data on Friday, May 5th. The financial services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.07. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Jones Lang LaSalle had a return on equity of 12.44% and a net margin of 4.28%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share.
JLL has been the subject of a number of recent research reports. William Blair upgraded shares of Jones Lang LaSalle from a “market perform” rating to an “outperform” rating in a report on Friday, March 24th. Zacks Investment Research cut shares of Jones Lang LaSalle from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of Jones Lang LaSalle in a report on Monday, April 17th. JMP Securities upped their price objective on shares of Jones Lang LaSalle from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $120.00 price objective on shares of Jones Lang LaSalle in a report on Friday, June 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Jones Lang LaSalle currently has a consensus rating of “Buy” and a consensus target price of $129.67.
Shares of Jones Lang LaSalle (NYSE JLL) traded up 0.79% on Wednesday, hitting $127.11. The company’s stock had a trading volume of 158,476 shares. Jones Lang LaSalle has a 52 week low of $86.62 and a 52 week high of $127.93. The stock has a market capitalization of $5.76 billion, a P/E ratio of 19.10 and a beta of 1.81. The stock’s 50 day moving average price is $117.22 and its 200 day moving average price is $110.68.
The company also recently declared a semiannual dividend, which was paid on Thursday, June 15th. Shareholders of record on Monday, May 15th were issued a dividend of $0.35 per share. This represents a yield of 0.57%. This is a boost from Jones Lang LaSalle’s previous semiannual dividend of $0.33. The ex-dividend date was Thursday, May 11th. Jones Lang LaSalle’s dividend payout ratio is 10.54%.
In other news, Director Sheila A. Penrose sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $120.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director now owns 48,342 shares of the company’s stock, valued at $5,801,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in JLL. BlackRock Inc. raised its position in shares of Jones Lang LaSalle by 2,744.5% in the first quarter. BlackRock Inc. now owns 4,348,540 shares of the financial services provider’s stock worth $484,647,000 after buying an additional 4,195,662 shares in the last quarter. Harbor Spring Capital LLC acquired a new position in Jones Lang LaSalle during the first quarter valued at about $37,224,000. Norges Bank acquired a new position in Jones Lang LaSalle during the fourth quarter valued at about $30,891,000. Platinum Investment Management Ltd. acquired a new position in Jones Lang LaSalle during the first quarter valued at about $33,847,000. Finally, Vanguard Group Inc. raised its position in Jones Lang LaSalle by 4.2% in the first quarter. Vanguard Group Inc. now owns 3,710,306 shares of the financial services provider’s stock valued at $413,513,000 after buying an additional 150,310 shares during the period. 88.40% of the stock is owned by institutional investors and hedge funds.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated (JLL) is a financial and professional services company specializing in real estate. The Company operates through four business segments: Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and LaSalle. It offers integrated services on a local, regional and global basis to owner, occupier, investor and developer clients.
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