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Jones Lang LaSalle (JLL) Surges 5.6%: Is This an Indication of Further Gains?
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Jones Lang LaSalle (JLL - Free Report) shares rallied 5.6% in the last trading session to close at $245.10. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 15.2% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable environment for the real estate operation industry.
This financial and professional services company is expected to post quarterly earnings of $2.27 per share in its upcoming report, which represents a year-over-year change of +354%. Revenues are expected to be $5.35 billion, up 5.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Jones Lang LaSalle, the consensus EPS estimate for the quarter has been revised 2.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on JLL going forward to see if this recent jump can turn into more strength down the road.
Jones Lang LaSalle is a member of the Zacks Real Estate - Operations industry. One other stock in the same industry, Zillow (Z - Free Report) , finished the last trading session 2% higher at $48.47. Z has returned 2.2% over the past month.
For Zillow, the consensus EPS estimate for the upcoming report has changed -66.7% over the past month to $0.31. This represents a change of -20.5% from what the company reported a year ago. Zillow currently has a Zacks Rank of #4 (Sell).
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Jones Lang LaSalle (JLL) Surges 5.6%: Is This an Indication of Further Gains?
Jones Lang LaSalle (JLL - Free Report) shares rallied 5.6% in the last trading session to close at $245.10. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 15.2% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable environment for the real estate operation industry.
This financial and professional services company is expected to post quarterly earnings of $2.27 per share in its upcoming report, which represents a year-over-year change of +354%. Revenues are expected to be $5.35 billion, up 5.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Jones Lang LaSalle, the consensus EPS estimate for the quarter has been revised 2.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on JLL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Jones Lang LaSalle is a member of the Zacks Real Estate - Operations industry. One other stock in the same industry, Zillow (Z - Free Report) , finished the last trading session 2% higher at $48.47. Z has returned 2.2% over the past month.
For Zillow, the consensus EPS estimate for the upcoming report has changed -66.7% over the past month to $0.31. This represents a change of -20.5% from what the company reported a year ago. Zillow currently has a Zacks Rank of #4 (Sell).