Jones Lang LaSalle Incorporated (NYSE:JLL) to Post Q3 2023 Earnings of $3.48 Per Share, Zacks Research Forecasts

Posted by Defense World Staff on Sep 23rd, 2023

Jones Lang LaSalle Incorporated (NYSE:JLL – Free Report) – Research analysts at Zacks Research dropped their Q3 2023 earnings estimates for shares of Jones Lang LaSalle in a research report issued on Thursday, September 21st. Zacks Research analyst R. Fatarpekar now anticipates that the financial services provider will post earnings of $3.48 per share for the quarter, down from their prior estimate of $3.62. The consensus estimate for Jones Lang LaSalle’s current full-year earnings is $10.90 per share. Zacks Research also issued estimates for Jones Lang LaSalle’s FY2023 earnings at $11.15 EPS, Q1 2024 earnings at $1.16 EPS, FY2024 earnings at $15.25 EPS, Q2 2025 earnings at $5.21 EPS and FY2025 earnings at $20.42 EPS.

Jones Lang LaSalle (NYSE:JLL – Get Free Report) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($1.70). Jones Lang LaSalle had a net margin of 1.50% and a return on equity of 7.05%. The company had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the previous year, the firm earned $4.48 EPS. The firm’s revenue was down 4.3% on a year-over-year basis.

JLL has been the topic of a number of other research reports. StockNews.com initiated coverage on shares of Jones Lang LaSalle in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Citigroup reiterated a “neutral” rating and set a $178.00 target price on shares of Jones Lang LaSalle in a research report on Monday, September 18th. Finally, Raymond James lowered their price objective on shares of Jones Lang LaSalle from $239.00 to $222.00 and set an “outperform” rating on the stock in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $193.20.

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Jones Lang LaSalle Stock Down 1.7 %

Jones Lang LaSalle stock opened at $143.37 on Friday. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 0.36. Jones Lang LaSalle has a 12-month low of $123.00 and a 12-month high of $188.61. The firm’s fifty day moving average is $166.25 and its 200 day moving average is $152.44. The company has a market capitalization of $6.83 billion, a PE ratio of 22.54 and a beta of 1.31.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of JLL. Barclays PLC grew its stake in shares of Jones Lang LaSalle by 457.0% in the 2nd quarter. Barclays PLC now owns 70,124 shares of the financial services provider’s stock worth $10,924,000 after acquiring an additional 57,535 shares in the last quarter. Portside Wealth Group LLC bought a new stake in shares of Jones Lang LaSalle in the 2nd quarter worth $3,335,000. Comerica Bank bought a new stake in shares of Jones Lang LaSalle in the 2nd quarter worth $39,850,000. Teachers Retirement System of The State of Kentucky grew its stake in shares of Jones Lang LaSalle by 10.1% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 8,608 shares of the financial services provider’s stock worth $1,341,000 after acquiring an additional 789 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Jones Lang LaSalle by 1.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 142,611 shares of the financial services provider’s stock worth $22,219,000 after acquiring an additional 2,045 shares in the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

Jones Lang LaSalle Company Profile

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Jones Lang LaSalle Incorporated, a professional services company, provides real estate and investment management services in Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a range of real estate services, including agency leasing, tenant representation, property management, advisory, and consulting services; and capital market services, such as equity and debt advisory, loan sales, equity advisory, loan servicing, merger and acquisition, corporate advisory, and investment sales and advisory services.