Zacks Investment Research Downgrades Jones Lang LaSalle (NYSE:JLL) to Hold

Jones Lang LaSalle (NYSE:JLLGet Rating) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks.com reports. They presently have a $230.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 6.75% from the stock’s previous close.

According to Zacks, “Shares of Jones Lang LaSalle, popularly known as JLL, have outperformed the industry in the past year. Strength in the Leasing and Capital markets as well as valuation increases in its strategic technological investments are expected to keep supporting the company's financials. Its wide range of products and services and a spate of strategic investment activities to capitalize on market consolidations augur well for long-term growth. Its superior operating platform and market share expansion are likely to help achieve strong growth and generate decent cash flows. However, stiff competition from major regional and local industry players is a major concern. Also, the rising geopolitical tension makes us apprehensive. The recent earnings estimate revision trend for 2022 indicates an unfavorable outlook for the company, with estimates moving south.”

A number of other research analysts have also recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Jones Lang LaSalle in a research note on Monday, February 28th. The Goldman Sachs Group initiated coverage on shares of Jones Lang LaSalle in a research note on Tuesday, April 5th. They set a “sell” rating and a $217.00 target price on the stock. StockNews.com cut shares of Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 8th. Raymond James decreased their target price on shares of Jones Lang LaSalle from $329.00 to $295.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 26th. Finally, Wolfe Research decreased their target price on shares of Jones Lang LaSalle from $461.00 to $335.00 and set an “outperform” rating on the stock in a research note on Thursday, March 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $259.20.

NYSE:JLL traded down $3.28 during mid-day trading on Monday, reaching $215.45. The stock had a trading volume of 6,089 shares, compared to its average volume of 296,194. The stock has a 50-day simple moving average of $230.12 and a two-hundred day simple moving average of $247.00. The stock has a market capitalization of $10.75 billion, a PE ratio of 11.66, a P/E/G ratio of 1.27 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.70 and a quick ratio of 1.70. Jones Lang LaSalle has a 12 month low of $184.21 and a 12 month high of $275.77.

Jones Lang LaSalle (NYSE:JLLGet Rating) last announced its quarterly earnings data on Monday, February 28th. The financial services provider reported $8.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.68 by $1.98. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Jones Lang LaSalle had a net margin of 4.97% and a return on equity of 16.91%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period last year, the firm posted $5.29 earnings per share. Equities analysts expect that Jones Lang LaSalle will post 19.11 EPS for the current year.

Several large investors have recently modified their holdings of JLL. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Jones Lang LaSalle by 4.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 23,116 shares of the financial services provider’s stock worth $3,564,000 after purchasing an additional 914 shares during the period. Morgan Stanley lifted its holdings in shares of Jones Lang LaSalle by 32.9% during the second quarter. Morgan Stanley now owns 140,627 shares of the financial services provider’s stock worth $27,486,000 after purchasing an additional 34,813 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Jones Lang LaSalle by 8.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 1,213 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 98 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Jones Lang LaSalle by 262.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,715 shares of the financial services provider’s stock worth $1,418,000 after purchasing an additional 4,140 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Jones Lang LaSalle by 0.5% during the third quarter. Deutsche Bank AG now owns 100,062 shares of the financial services provider’s stock worth $24,824,000 after purchasing an additional 482 shares during the period. Institutional investors own 95.21% of the company’s stock.

About Jones Lang LaSalle (Get Rating)

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 and tenant representation services; and capital market services, such as debt advisory, loan sales, equity advisory, loan servicing, merger and acquisition, corporate advisory, and investment sales and advisory services.

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