Layne Christensen Company (NASDAQ:LAYN) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Analysts have set a twelve-month consensus target price of $11.00 for the company and are predicting that the company will post ($0.04) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Layne Christensen an industry rank of 163 out of 265 based on the ratings given to related companies.
Several research analysts recently issued reports on the stock. Jefferies Group LLC reissued a “hold” rating and set a $11.00 target price (up previously from $9.00) on shares of Layne Christensen in a report on Thursday, September 14th. ValuEngine raised shares of Layne Christensen from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, Zacks Investment Research cut shares of Layne Christensen from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th.
Several institutional investors have recently modified their holdings of the stock. Nationwide Fund Advisors grew its position in Layne Christensen by 3.0% during the second quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock valued at $128,000 after buying an additional 428 shares during the period. Wells Fargo & Company MN grew its position in Layne Christensen by 5.3% during the first quarter. Wells Fargo & Company MN now owns 17,000 shares of the construction company’s stock valued at $151,000 after buying an additional 855 shares during the period. Rhumbline Advisers grew its position in Layne Christensen by 8.8% during the second quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock valued at $190,000 after buying an additional 1,755 shares during the period. KBC Group NV grew its position in Layne Christensen by 1.1% during the second quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock valued at $2,010,000 after buying an additional 2,515 shares during the period. Finally, Teachers Advisors LLC grew its position in Layne Christensen by 11.5% during the second quarter. Teachers Advisors LLC now owns 35,051 shares of the construction company’s stock valued at $308,000 after buying an additional 3,619 shares during the period. 89.27% of the stock is owned by hedge funds and other institutional investors.
Layne Christensen (NASDAQ:LAYN) last posted its quarterly earnings results on Monday, September 11th. The construction company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.07. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. The business had revenue of $126.20 million during the quarter, compared to analysts’ expectations of $122.99 million. During the same quarter last year, the company posted ($0.21) earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis.
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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