Jones Lang LaSalle (NYSE:JLL) posted its quarterly earnings results on Tuesday. The financial services provider reported $6.35 EPS for the quarter, beating the consensus estimate of $5.82 by $0.53, RTT News reports. Jones Lang LaSalle had a return on equity of 15.64% and a net margin of 2.64%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the firm earned $5.99 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis.
JLL stock traded down $0.13 during midday trading on Friday, hitting $169.98. 37,521 shares of the company’s stock were exchanged, compared to its average volume of 258,277. The business has a 50-day simple moving average of $171.74 and a two-hundred day simple moving average of $154.26. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $8.73 billion, a PE ratio of 17.52 and a beta of 1.80. Jones Lang LaSalle has a 1-year low of $124.01 and a 1-year high of $178.55.
JLL has been the subject of several recent research reports. ValuEngine raised Jones Lang LaSalle from a “sell” rating to a “hold” rating in a report on Wednesday. Bank of America cut Jones Lang LaSalle from a “buy” rating to an “underperform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Jones Lang LaSalle presently has a consensus rating of “Hold” and an average price target of $176.75.
Jones Lang LaSalle announced that its board has initiated a stock repurchase program on Tuesday, November 5th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the financial services provider to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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