Layne Christensen Stock Rating Lowered by TheStreet (LAYN)
Layne Christensen (NASDAQ:LAYN) was downgraded by TheStreet from a “hold” rating to a “sell” rating in a research note issued on Tuesday, ARN reports.
The analysts wrote, “Layne Christensen Company (LAYN) has been downgraded by TheStreet Ratings from hold to sell. The company’s weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins and feeble growth in its earnings per share.”
Shares of Layne Christensen (NASDAQ:LAYN) traded up 2.48% on Tuesday, hitting $20.21. The stock had a trading volume of 55,840 shares. Layne Christensen has a 52-week low of $17.42 and a 52-week high of $25.11. The stock has a 50-day moving average of $19.52 and a 200-day moving average of $20.38. The company’s market cap is $395.1 million.
Layne Christensen (NASDAQ:LAYN) last announced its earnings results on Friday, September 6th. The company reported ($1.17) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.39) by $0.78. The company had revenue of $232.00 million for the quarter, compared to the consensus estimate of $260.61 million. During the same quarter last year, the company posted $0.25 earnings per share. Layne Christensen’s revenue was down 19.4% compared to the same quarter last year. Analysts expect that Layne Christensen will post $-1.41 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at DA Davidson initiated coverage on shares of Layne Christensen (NASDAQ:LAYN) in a research note to investors on Monday. They set a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of Layne Christensen (NASDAQ:LAYN) from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, August 9th. They now have a $20.30 price target on the stock. Finally, analysts at Thomson Reuters/Verus downgraded shares of Layne Christensen (NASDAQ:LAYN) from a “hold” rating to a “sell” rating in a research note to investors on Monday, July 15th.
Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $20.30.
Layne Christensen Company is a global water management, construction and drilling company. It provides solutions for water, mineral and energy challenges.
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