Analysts were expecting FirstService Corporation (FSRV) [Chart - News - Analysis] to report earnings of $0.60 for last quarter, and FSRV met expectations with actual earnings of $0.60---in line the consensus estimate.

If you compare last quarter's earnings to the $0.62 the company made per share during the same quarter a year ago, you can see that FSRV’s earnings are down this year.

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Also, if you compare FSRV's 11.00% projected earnings-per-share (EPS) growth rate for the next five years with the projected EPS growth rate of 10.36% for the Property Management industry as a whole during that same time frame, you can see that analysts expect FSRV to outperform the industry in the future---which is a good sign for the stock.

Drilling down a little deeper into the Property Management industry, you can see how analysts believe FSRV will stack up against some of the other stocks in the industry, like CB Richard Ellis Group, Inc. (CBG) [Chart - News - Analysis] and Icahn Enterprises, L.P. (IEP) [Chart - News - Analysis], in the future. Analysts believe CBG's earnings are going to grow at a rate of 9.40% while IEP's earnings are going to grow at a rate of 0.00%.

Earnings season can be a volatile time in the stock market. Check out these videos and articles to be better prepared to take advantage of the large price moves that tend to accompany earnings announcements.

- Earnings Season is Here - Find Out How to Trade It

- Using Options to Trade Earnings

- Understanding Stock Analyst Research and Recommendations

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Competition in the Property Management industry is starting to heat up, and a few stocks, like CB Richard Ellis Group, Inc. (CBG), are falling behind.

Here's something to watch. CB Richard Ellis Group, Inc., Brookfield Properties Corporation (BPO) and Icahn Enterprises, L.P. (IEP) are each affected by the same general fundamental forces that affect all of the companies in the Property Management industry. However, if you dig down into the short interest for each stock and calculate their short-interest ratios, you will see that stock traders have less confidence in CB Richard Ellis Group, Inc. than they do in the other two.

Short-interest ratios tell you how long---on average---it will take short traders to cover their short positions on a particular stock. Take these three stocks for instance.

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CB Richard Ellis Group, Inc. has a current short ratio of 3.82. That means it would take approximately 3.82 days for traders to cover their short positions.

Brookfield Properties Corporation has a current short ratio of 3.36. That means it would take approximately 3.36 days for traders to cover their short positions.

Icahn Enterprises, L.P. has a current short ratio of 17.86. That means it would take approximately 17.86 days for traders to cover their short positions.

Typically, the higher the short ratio, the more bearish traders are on a stock. So out of these three stocks in the Property Management industry, Brookfield Properties Corporation seems to be in the best shape in the minds of traders and Icahn Enterprises, L.P. is in the worst shape.

Of course, stocks with too much short interest are always in danger of becoming the target of a short squeeze so make sure to watch for those stocks with high levels of short interest to suddenly take off on any signs of good fundamental or economic news.

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The Chicago, Illinois-based company posted a GAAP net loss attributable to common stockholders of $14.4 million or $0.40 per share for the second quarter, compared to net income of $24.5 million or $0.73 per share in the prior year quarter. The result for the quarter included $15 million of restructuring charges, and $15 million of non-cash co-investment charges.

Among others in the industry, Los Angeles, California-based CB Richard Ellis Group, Inc. (CBG), Wednesday reported a slip to loss in the second quarter on charges and sharp decline in revenues. Though affected by weak performance from all its segment, revenues still came in above estimates for the quarter.

Excluding items, JLL net income would have been $11 million or $0.30 per share for the second quarter of 2009. On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share for the second quarter. Analysts' estimates typically exclude special items.

Second quarter revenue decreased 13% to $576 million from $659.5 million in the same quarter last year. On local currency basis, revenue dropped by only 6%. Five analysts had a consensus revenue estimate of $581.82 million for the second quarter.

Second quarter revenue in the Americas region grew 31% to $249 million, mainly due to the Staubach acquisition.

EMEA revenue fell 39% to $143 million, while on local currency basis, revenue dropped 28%, due to continued reductions in transaction volumes across the region.

Revenue for the Asia Pacific region dropped 16% to $119 million over a year ago.

LaSalle Investment Management's second-quarter revenue plunged 50.5% to $46 million for the second quarter of 2009.

Revenue from total transaction services slipped 10% to $282.7 million. However, revenue from total management services rose 7% to $221.8 million. Total revenue from Investor and Occupier Services fell 3% to $512.4 million over a year earlier.

During the second quarter of 2009, Jones Lang Lasalle continued actions to reduce staff and eliminate significant discretionary spending. The company said it continues its cost discipline and expects to save over $125 million in annualized compensation and benefits savings from its restructuring actions.

The company, during the second quarter, issued 6.5 million shares in a common stock offering for $218 million in net proceeds and, simultaneously, amended its credit facilities for increased financial and operational flexibility. The proceeds from the stock offering were used to repay debt on the firm's credit facilities.

For the first-half of 2009, Jones Lang Lasalle reported a net loss attributable to common stockholders of $75.9 million or $2.15 per share, compared to earnings of $27.4 million or $0.82 per share in the previous year period.

Adjusted net loss would have been $11 million or $0.31 per share for the first six-month period of 2009.

Revenue declined 13% to $1.07 billion from $1.22 billion in the year-ago period, but down only 5% in local currency.

Jones Lang Lasalle closed Tuesday's regular trading session at $39.83, up 75 cents or 1.92% on a volume of 1.05 million shares. However, in the after-hours, the shares lost 13 cents.

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