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.
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