Zacks Research Brokers Decrease Earnings Estimates for Jones Lang LaSalle Incorporated (NYSE:JLL)

Posted by Defense World Staff on Sep 25th, 2023

Jones Lang LaSalle Incorporated (NYSE:JLL – Free Report) – Analysts at Zacks Research dropped their Q4 2023 EPS estimates for Jones Lang LaSalle in a research report issued on Thursday, September 21st. Zacks Research analyst R. Fatarpekar now expects that the financial services provider will post earnings of $6.52 per share for the quarter, down from their previous forecast of $6.86. The consensus estimate for Jones Lang LaSalle’s current full-year earnings is $10.78 per share. Zacks Research also issued estimates for Jones Lang LaSalle’s Q2 2024 earnings at $2.96 EPS, Q3 2024 earnings at $5.09 EPS, Q4 2024 earnings at $6.04 EPS and Q1 2025 earnings at $4.49 EPS.

Other analysts also recently issued research reports about the stock. Citigroup reissued a “neutral” rating and set a $178.00 price objective on shares of Jones Lang LaSalle in a report on Monday, September 18th. StockNews.com started coverage on shares of Jones Lang LaSalle in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Raymond James cut their target price on shares of Jones Lang LaSalle from $239.00 to $222.00 and set an “outperform” rating for the company in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Jones Lang LaSalle currently has a consensus rating of “Hold” and an average price target of $193.20.

Check Out Our Latest Stock Report on JLL

Jones Lang LaSalle Stock Down 1.7 %

JLL stock opened at $143.27 on Monday. The company has a market cap of $6.83 billion, a P/E ratio of 22.53 and a beta of 1.31. Jones Lang LaSalle has a 52 week low of $123.00 and a 52 week high of $188.61. The company’s 50-day moving average price is $166.25 and its 200 day moving average price is $152.22. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.36.

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

Hedge Funds Weigh In On Jones Lang LaSalle

A number of institutional investors have recently modified their holdings of the company. Covestor Ltd raised its position in shares of Jones Lang LaSalle by 61.3% in the first quarter. Covestor Ltd now owns 150 shares of the financial services provider’s stock valued at $36,000 after buying an additional 57 shares during the last quarter. Cerity Partners LLC raised its position in shares of Jones Lang LaSalle by 2.0% in the second quarter. Cerity Partners LLC now owns 3,042 shares of the financial services provider’s stock valued at $474,000 after buying an additional 61 shares during the last quarter. CWM LLC increased its position in Jones Lang LaSalle by 7.3% during the first quarter. CWM LLC now owns 1,144 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 78 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Jones Lang LaSalle by 1.4% during the first quarter. Janney Montgomery Scott LLC now owns 5,861 shares of the financial services provider’s stock worth $853,000 after purchasing an additional 81 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in Jones Lang LaSalle by 2.5% during the first quarter. HighTower Advisors LLC now owns 3,413 shares of the financial services provider’s stock worth $818,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

Jones Lang LaSalle Company Profile

(Get Free Report)

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.