Leasing Advisory growth - Higher Leasing Advisory revenue driven by increased momentum in office, industrial and data center asset classes, with larger average deal sizes and higher deal volume, especially in the U.S.
Capital Markets Services - Revenue growth led by investment sales, debt and equity advisory, with broad-based increases across most geographies, particularly in the U.S., Japan and Australia
Workplace Management - Real Estate Management Services growth highlighted by mandate expansions and new wins in Workplace Management
Q2 results beat estimates
Global real estate services firm's Q2 revenue rose 11%, slightly beating analyst expectations
Adjusted EPS for Q2 increased 59%, beating analyst expectations
Company repurchased $110 mln in shares during the quarter
Company expects continued acceleration in Advisory revenues and robust demand for core services
JLL sees ongoing strength in Workplace Management and broad-based growth across sectors
Analyst coverage and valuation
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate services peer group is "buy"
Wall Street's median 12-month price target for Jones Lang LaSalle Inc is $401.00, about 17.9% above its July 29 closing price of $340.00
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago
JLL•
