Jones Lang LaSalle Incorporated (NYSE:JLL) Yearly Results Just Came Out: Here's What Analysts Are Forecasting For This Year

It's been a good week for Jones Lang LaSalle Incorporated (NYSE:JLL) shareholders, because the company has just released its latest full-year results, and the shares gained 3.1% to US$190. Jones Lang LaSalle reported US$21b in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$4.67 beat expectations, being 2.9% higher than what the analysts expected. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

View our latest analysis for Jones Lang LaSalle

Taking into account the latest results, the consensus forecast from Jones Lang LaSalle's six analysts is for revenues of US$22.0b in 2024. This reflects a credible 5.9% improvement in revenue compared to the last 12 months. Per-share earnings are expected to surge 130% to US$10.94. In the lead-up to this report, the analysts had been modelling revenues of US$21.8b and earnings per share (EPS) of US$10.78 in 2024. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.

It will come as no surprise then, to learn that the consensus price target is largely unchanged at US$199. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on Jones Lang LaSalle, with the most bullish analyst valuing it at US$218 and the most bearish at US$180 per share. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. It's pretty clear that there is an expectation that Jones Lang LaSalle's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 5.9% growth on an annualised basis. This is compared to a historical growth rate of 20% over the past five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 11% per year. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than Jones Lang LaSalle.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that Jones Lang LaSalle's revenue is expected to perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Jones Lang LaSalle going out to 2026, and you can see them free on our platform here..

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Jones Lang LaSalle that you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.