Zacks Research, a renowned equities research firm, has recently reduced its earnings per share estimates for Jones Lang LaSalle (JLL) in the fourth quarter of 2023. The financial services provider is now expected to post earnings per share of $6.52 for the quarter, lower than the previous estimate of $6.86. This downgrade in earnings estimates reflects a more cautious outlook for the company’s financial performance.
The consensus estimate for Jones Lang LaSalle’s full-year earnings in 2023 stands at $10.78 per share. Zacks Research also provided estimates for the company’s earnings in the second, third, and fourth quarters of 2024, as well as the first quarter of 2025. These estimates suggest a mixed outlook for the company’s future earnings.
In its latest earnings report released on August 3rd, Jones Lang LaSalle reported earnings per share of $0.50 for the quarter, falling short of analysts’ consensus estimates of $2.20. The company’s return on equity was 7.05% and its net margin was 1.50%.
During the same quarter last year, Jones Lang LaSalle earned $4.48 per share, indicating a decline in revenue. The company’s revenue for the quarter was $5.05 billion, slightly lower than the consensus estimate of $5.06 billion.
Several other equities research analysts have also made comments on Jones Lang LaSalle recently. Citigroup reiterated a “neutral” rating with a price target of $178.00 on the company’s shares. Raymond James lowered its price target from $239.00 to $222.00, while maintaining an “outperform” rating. StockNews.com initiated coverage on Jones Lang LaSalle with a “hold” rating.
While one investment analyst has issued a sell rating on the stock, two analysts recommend holding the stock, and three analysts advocate buying it. The company currently has an average rating of “hold” and a consensus target price of $193.20.
Despite the downgrade in earnings estimates, Jones Lang LaSalle’s stock has a positive price performance. It opened at $143.27 on Monday, with a one-year low of $123.00 and a one-year high of $188.61. The stock has a fifty-day moving average of $166.25 and a 200-day moving average of $152.22.
Jones Lang LaSalle is a professional services company that offers real estate and investment management services worldwide. Their range of services includes leasing, property management, capital markets, advisory, and consulting services. The company’s market cap is $6.83 billion, with a moderate price-to-earnings ratio of 22.53 and a beta of 1.31.
Several large investors have recently modified their holdings of Jones Lang LaSalle. Vanguard Group Inc., FMR LLC, Cohen & Steers Inc., Morgan Stanley, and Ariel Investments LLC have all increased their stake in the company. In total, institutional investors own 96.79% of the company’s stock.
In conclusion, while Jones Lang LaSalle’s earnings estimates for the fourth quarter of 2023 have been reduced, the company has a positive price performance. Analysts have mixed opinions on the stock, with a consensus rating of “hold.” The company’s range of real estate and investment management services has attracted the attention of large institutional investors.
Definitions:
– Earnings per share (EPS): A company’s profit divided by the number of common shares outstanding.
– Revenue: The total income generated by a company through its business activities.
– Consensus estimate: The average forecast of financial analysts for a company’s financial performance.
– Return on equity (ROE): A measure of a company’s profitability that shows how much profit is generated for each dollar invested by shareholders.
– Net margin: The ratio of a company’s net income to its revenue, indicating the percentage of revenue that remains as profit after deducting expenses.
– Price-to-earnings ratio (P/E ratio): The ratio of a company’s current share price to its earnings per share, indicating how much investors are willing to pay for each dollar of earnings.
Sources:
– Zacks Research (zacks.com)
– MarketBeat (marketbeat.com)