Jones Lang LaSalle Incorporated
) crafted a new 52-week high, touching $102.23 during the trading
session on Dec 24. However, the stock closed the session at
$101.75, which reflects a solid year-to-date return of 18.7%. The
trading volume for the session was 0.08 million shares.
Despite the strong price appreciation, this Zacks Rank #2
(Buy) stock has plenty of upside left, given the improving market
fundamentals, acquisitions, deal with Gemalto and expected
long-term earnings growth of 13.83%.
We are positive on Jones Lang LaSalle, following its strong
results in third-quarter 2013 and improving market fundamentals.
Aided by solid growth in revenues, Jones Lang's third-quarter
2013 adjusted earnings per share came in substantially ahead of
the Zacks Consensus Estimate and also came 21% above the year-ago
Quarterly results benefited from decent growth in fee
revenues, driven by Capital Markets & Hotels and Property
& Facility Management and a strong performance in leasing.
Moreover, the company increased its credit facility, which along
with a solid balance sheet, provides the company the wherewithal
to carry on investing in growth drivers going forward.
In recent times, Jones Lang LaSalle disclosed that it was
selected by Gemalto - a leading international digital security
company - to act as adviser for its worldwide real estate
operations. The company also acquired a Houston-based property
management company - Means Knaus Partners (MKP) in the third
quarter to enhance its office property management capacities.
Apart from this, it acquired the Kansas City-area commercial real
estate firm, Capital Realty.
Moreover, Jones Lang LaSalle saw its 50 Day Moving Average
break out above its 200 Day Simple Moving Average a few days ago.
The stock has recorded an average earnings surprise of 12.02%
over the past 4 quarters.
Other Stocks to Consider
Apart from Jones Lang LaSalle, the other stocks worth
considering in the Real Estate Operations sector include
E-House (China) Holdings Ltd.
Kennedy-Wilson Holdings, Inc.
). All these stocks carry a Zacks Rank #1 (Strong Buy).
E-HOUSE CHINA (EJ): Free Stock Analysis
FIRSTSERVICE CP (FSRV): Free Stock Analysis
JONES LANG LASL (JLL): Free Stock Analysis
KENNEDY-WILSON (KW): Free Stock Analysis
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