Jones Lang LaSalle Inc (NYSE:JLL) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Jones Lang LaSalle Inc (NYSE:JLL) have received a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $178.03.

JLL has been the topic of a number of research analyst reports. Barclays set a $179.00 target price on Jones Lang LaSalle and gave the stock a “buy” rating in a research note on Friday, October 11th. Bank of America initiated coverage on Jones Lang LaSalle in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $175.00 target price on the stock.

In related news, CEO Jeff A. Jacobson sold 10,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $169.35, for a total transaction of $1,693,500.00. Following the completion of the sale, the chief executive officer now directly owns 7,124 shares in the company, valued at approximately $1,206,449.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Generation Investment Management LLP raised its holdings in Jones Lang LaSalle by 12.1% during the third quarter. Generation Investment Management LLP now owns 4,775,096 shares of the financial services provider’s stock valued at $664,025,000 after acquiring an additional 516,830 shares during the period. Long Pond Capital LP bought a new stake in Jones Lang LaSalle during the second quarter worth approximately $72,297,000. Reinhart Partners Inc. bought a new stake in Jones Lang LaSalle during the third quarter worth approximately $22,041,000. Balyasny Asset Management LLC increased its stake in Jones Lang LaSalle by 1,491.8% during the second quarter. Balyasny Asset Management LLC now owns 159,589 shares of the financial services provider’s stock worth $22,453,000 after acquiring an additional 149,563 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Jones Lang LaSalle by 490.9% during the third quarter. Millennium Management LLC now owns 178,070 shares of the financial services provider’s stock worth $24,762,000 after acquiring an additional 147,934 shares during the last quarter. Institutional investors own 89.82% of the company’s stock.

Shares of NYSE:JLL traded down $1.17 during midday trading on Monday, reaching $170.10. 204,582 shares of the company traded hands, compared to its average volume of 292,992. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.49. Jones Lang LaSalle has a 12 month low of $119.79 and a 12 month high of $173.32. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 13.89 and a beta of 1.77. The firm’s fifty day moving average price is $161.40 and its two-hundred day moving average price is $143.30.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.79. Jones Lang LaSalle had a return on equity of 15.64% and a net margin of 2.64%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period in the previous year, the company posted $3.02 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts forecast that Jones Lang LaSalle will post 13.18 earnings per share for the current year.

Jones Lang LaSalle declared that its board has initiated a share repurchase program on Tuesday, November 5th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were issued a $0.43 dividend. This is a boost from Jones Lang LaSalle’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, November 14th. Jones Lang LaSalle’s dividend payout ratio is presently 7.02%.

About Jones Lang LaSalle

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, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations.

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Analyst Recommendations for Jones Lang LaSalle (NYSE:JLL)

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