Jones Lang LaSalle (NYSE:JLL) Coverage Initiated at DA Davidson

DA Davidson assumed coverage on shares of Jones Lang LaSalle (NYSE:JLL) in a report issued on Thursday morning, Briefing.com Automated Import reports. The brokerage issued a buy rating on the financial services provider’s stock.

Several other research analysts have also weighed in on JLL. Keefe, Bruyette & Woods lowered Jones Lang LaSalle from an outperform rating to a market perform rating in a research report on Wednesday, April 17th. Barclays set a €45.00 ($52.33) price objective on Zalando and gave the stock a buy rating in a research report on Tuesday, April 16th. Goldman Sachs Group set a €63.00 ($73.26) price objective on Lanxess and gave the stock a buy rating in a research report on Friday, May 10th. Compass Point started coverage on Jones Lang LaSalle in a research report on Wednesday. They issued a buy rating and a $180.00 price objective for the company. Finally, ValuEngine lowered Valero Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $178.14.

NYSE:JLL opened at $138.59 on Thursday. Jones Lang LaSalle has a one year low of $119.79 and a one year high of $174.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market capitalization of $6.34 billion, a PE ratio of 11.40, a PEG ratio of 1.32 and a beta of 1.74. The firm has a 50 day moving average of $134.86.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.69 by $0.20. Jones Lang LaSalle had a return on equity of 15.36% and a net margin of 2.81%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that Jones Lang LaSalle will post 11.61 EPS for the current year.

The company also recently declared a semiannual dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 17th were given a dividend of $0.43 per share. This is a positive change from Jones Lang LaSalle’s previous semiannual dividend of $0.41. This represents a dividend yield of 0.61%. The ex-dividend date was Thursday, May 16th. Jones Lang LaSalle’s dividend payout ratio (DPR) is currently 7.02%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JLL. Ropes Wealth Advisors LLC purchased a new position in shares of Jones Lang LaSalle during the first quarter worth $35,000. Parallel Advisors LLC boosted its position in shares of Jones Lang LaSalle by 62.2% during the first quarter. Parallel Advisors LLC now owns 232 shares of the financial services provider’s stock worth $36,000 after buying an additional 89 shares during the period. Hanson & Doremus Investment Management purchased a new position in shares of Jones Lang LaSalle during the first quarter worth $39,000. Synovus Financial Corp boosted its position in shares of Jones Lang LaSalle by 340.3% during the first quarter. Synovus Financial Corp now owns 273 shares of the financial services provider’s stock worth $43,000 after buying an additional 211 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Jones Lang LaSalle by 465.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 894 shares of the financial services provider’s stock worth $113,000 after buying an additional 736 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

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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