Homebuilders had a long run in recent years amid low interest rates, lack of supply and high demand. Jones Lang LaSalle has been among the leaders in growth, and its stock hit a fresh all-time high recently. Additionally, it's forming a base offering a 275.87 buy point as it gets ready to report its next round of earnings on Feb. 28. The pattern is a first-stage consolidation, a bullish indicator. Jones Lang LaSalle stock bucked the market trend and rose 1% Tuesday.
Earnings for the Chicago-based homebuilder grew 53% to $4.56 per share last quarter. The prior two quarters its EPS grew 329% and 492%. In its most recent quarter its revenue climbed 23% 4.89 billion, its second consecutive quarter of double-digit sales growth.
Jones Lang LaSalle Stock Among Top 5%
Consensus analyst estimates call for earnings growth of 28% for the quarter, and 87% growth for the full year. Annual growth estimates were recently revised upward.
Meanwhile, among its key ratings Jones Lang LaSalle stock boasts a 95 Composite Rating.
The IBD Composite Rating helps investors easily measure the quality of a stock's fundamental and technical metrics. The best growth stocks have a Composite Rating of 90 or better.
Additionally, the homebuilder carries a 92 EPS Rating, of a best-possible 99, reflecting that strong recent profit surge. It has a weak D+ Accumulation/Distribution Rating as wary institutional investors stay out of the market along with most retail investors, to keep their powder dry.
Up 252% From Covid Crash Low
Its stock action has been outstanding. Jones Lang LaSalle stock soared 252% from a 78.29 intraday low in late March 2020 to an all-time high 275.77 on Jan. 4 this year. It's consolidated since then in sync with the market.
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Jones Lang LaSalle has a 94 Composite Rating and earns the No. 10 rank among its peers in the Real Estate-Development/Operations industry group. Grupo Aero Cent, Tricon Residential Inc and Cushman & Wakefield are among the top 5 highly rated stocks within the group.
Understand that buying a stock just ahead of earnings can be risky since you typically don't have enough time to establish a profit cushion before the latest quarterly numbers come out. Be sure to follow sound buy and sell rules to minimize your exposure.
Note: Dates for earnings reports are subject to change. Check the company's website for any updates.
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