Layne Christensen Company (LAYN) Issues Earnings Results

Layne Christensen Company (NASDAQ:LAYN) posted its earnings results on Monday. The construction company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.07, Briefing.com reports. The business had revenue of $126.20 million during the quarter, compared to analyst estimates of $122.99 million. Layne Christensen had a negative return on equity of 31.94% and a negative net margin of 11.98%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) EPS.

Layne Christensen (NASDAQ:LAYN) opened at 11.16 on Tuesday. The stock’s market cap is $221.02 million. The stock’s 50 day moving average price is $10.33 and its 200 day moving average price is $8.98. Layne Christensen has a one year low of $6.98 and a one year high of $11.42.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP raised its stake in Layne Christensen by 3.6% during the 2nd quarter. Royce & Associates LP now owns 1,953,571 shares of the construction company’s stock valued at $17,172,000 after purchasing an additional 68,599 shares during the period. Dimensional Fund Advisors LP raised its stake in Layne Christensen by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,140,388 shares of the construction company’s stock valued at $10,024,000 after purchasing an additional 5,169 shares during the period. Credit Suisse AG raised its stake in Layne Christensen by 2.6% during the 1st quarter. Credit Suisse AG now owns 723,400 shares of the construction company’s stock valued at $6,394,000 after purchasing an additional 18,046 shares during the period. Parametric Portfolio Associates LLC raised its stake in Layne Christensen by 779.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 447,331 shares of the construction company’s stock valued at $3,954,000 after purchasing an additional 396,481 shares during the period. Finally, State Street Corp raised its stake in Layne Christensen by 9.9% during the 2nd quarter. State Street Corp now owns 280,282 shares of the construction company’s stock valued at $2,465,000 after purchasing an additional 25,213 shares during the period. 89.27% of the stock is currently owned by institutional investors.

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A number of research analysts have weighed in on the company. Zacks Investment Research lowered Layne Christensen from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. ValuEngine lowered Layne Christensen from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Jefferies Group LLC set a $9.00 target price on Layne Christensen and gave the company a “hold” rating in a report on Saturday, June 10th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Layne Christensen currently has a consensus rating of “Hold” and an average target price of $9.50.

Layne Christensen Company Profile

Layne Christensen Company (Layne) is a water management, construction and drilling company. The Company provides drilling solutions for water management, mineral services and specialty drilling needs. The Company operates through three segments: Water Resources, Inliner and Mineral Services. Its Water Resources segment provides its customers with solutions for various aspects of water supply system development and technology throughout the United States.

Earnings History for Layne Christensen (NASDAQ:LAYN)

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