Jones Lang LaSalle (NYSE:JLL) Reaches New 52-Week High After Strong Earnings

Shares of Jones Lang LaSalle Incorporated (NYSE:JLL) reached a new 52-week high during mid-day trading on Monday following a better than expected earnings announcement. The stock traded as high as $200.73 and last traded at $194.15, with a volume of 102560 shares. The stock had previously closed at $185.52.

The financial services provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.93. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.82 billion. Jones Lang LaSalle had a return on equity of 5.74% and a net margin of 1.09%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group initiated coverage on Jones Lang LaSalle in a report on Wednesday, April 10th. They set a “buy” rating and a $246.00 price target for the company. TheStreet raised Jones Lang LaSalle from a “c+” rating to a “b-” rating in a research note on Wednesday, February 14th. Wolfe Research reissued a “peer perform” rating on shares of Jones Lang LaSalle in a research note on Tuesday, April 9th. StockNews.com raised Jones Lang LaSalle from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Finally, Raymond James raised Jones Lang LaSalle from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $218.00 to $246.00 in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in JLL. Rise Advisors LLC bought a new position in shares of Jones Lang LaSalle in the first quarter valued at approximately $30,000. Atlas Capital Advisors LLC bought a new position in Jones Lang LaSalle during the first quarter valued at $35,000. Riverview Trust Co bought a new stake in shares of Jones Lang LaSalle in the first quarter valued at $38,000. Exchange Traded Concepts LLC increased its holdings in Jones Lang LaSalle by 78.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 218 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 96 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in Jones Lang LaSalle during the fourth quarter worth about $47,000. Institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Stock Up 4.7 %

The stock’s 50 day moving average is $186.34 and its 200 day moving average is $173.00. The company has a market capitalization of $9.22 billion, a PE ratio of 39.81 and a beta of 1.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.94 and a current ratio of 1.94.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.