Real estate firm JLL (NYSE: JLL) will be reporting results this Wednesday morning. Here’s what to look for.
JLL met analysts’ revenue expectations last quarter, reporting revenues of $6.51 billion, up 10.9% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but revenue in line with analysts’ estimates.
Is JLL a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting JLL’s revenue to grow 10.3% year on year to $7.51 billion, slowing from the 15.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $7.36 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. JLL has missed Wall Street’s revenue estimates twice over the last two years.
Looking at JLL’s peers in the consumer discretionary - real estate services segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Marcus & Millichap delivered year-on-year revenue growth of 1.6%, beating analysts’ expectations by 6.3%, and Zillow reported revenues up 18.1%, topping estimates by 0.5%. Marcus & Millichap traded up 3.4% following the results while Zillow was down 17.1%.
Read our full analysis of Marcus & Millichap’s results here and Zillow’s results here.
Investors in the consumer discretionary - real estate services segment have had fairly steady hands going into earnings, with share prices down 1.7% on average over the last month. JLL is down 16% during the same time and is heading into earnings with an average analyst price target of $381 (compared to the current share price of $289.15).
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