Real estate firm JLL (NYSE: JLL) will be reporting results this Thursday morning. Here’s what you need to know.
JLL beat analysts’ revenue expectations last quarter, reporting revenues of $6.39 billion, up 11.1% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and a decent beat of analysts’ EBITDA estimates.
Is JLL a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting JLL’s revenue to grow 9.2% year on year, slowing from the 11% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. JLL has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at JLL’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Forestar Group delivered year-on-year revenue growth of 4.2%, missing analysts’ expectations by 7.7%, and AMC Entertainment reported revenues up 14.2%, topping estimates by 8.7%. Forestar Group traded down 2.8% following the results while AMC Entertainment was up 13.4%.
Read our full analysis of Forestar Group’s results here and AMC Entertainment’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. JLL is up 9.6% during the same time and is heading into earnings with an average analyst price target of $390.50 (compared to the current share price of $343.08).
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