Jones Lang LaSalle (NYSE:JLL) was downgraded by equities research analysts at Bank of America from a “buy” rating to an “underperform” rating in a report released on Thursday, January 3rd, MarketBeat.com reports. They currently have a $133.00 price objective on the financial services provider’s stock. Bank of America‘s price target suggests a potential downside of 1.85% from the company’s previous close.
JLL has been the subject of several other reports. Barclays boosted their target price on shares of Jones Lang LaSalle from $165.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, November 16th. Zacks Investment Research raised shares of Jones Lang LaSalle from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Tuesday, November 13th. Finally, ValuEngine raised shares of Jones Lang LaSalle from a “sell” rating to a “hold” rating in a research report on Friday, November 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $166.43.
JLL opened at $135.51 on Thursday. Jones Lang LaSalle has a 1-year low of $119.79 and a 1-year high of $178.75. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.09 and a beta of 1.52.
Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Tuesday, November 6th. The financial services provider reported $3.02 EPS for the quarter, topping the consensus estimate of $2.31 by $0.71. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.12 billion. Jones Lang LaSalle had a net margin of 2.59% and a return on equity of 14.87%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.96 earnings per share. On average, equities analysts predict that Jones Lang LaSalle will post 10.99 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. purchased a new position in Jones Lang LaSalle in the third quarter valued at about $693,000. Royal London Asset Management Ltd. purchased a new stake in shares of Jones Lang LaSalle during the 2nd quarter valued at approximately $558,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Jones Lang LaSalle during the 3rd quarter valued at approximately $5,513,000. Tdam USA Inc. lifted its stake in shares of Jones Lang LaSalle by 45.8% during the 3rd quarter. Tdam USA Inc. now owns 12,031 shares of the financial services provider’s stock valued at $1,736,000 after buying an additional 3,782 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of Jones Lang LaSalle during the 2nd quarter valued at approximately $14,872,000. Hedge funds and other institutional investors own 93.68% of the company’s stock.
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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