Thomson Reuters/Verus Downgrades Layne Christensen to Sell (LAYN)
Layne Christensen (NASDAQ:LAYN) was downgraded by analysts at Thomson Reuters/Verus from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, AR Network reports.
Layne Christensen (NASDAQ:LAYN) opened at 17.71 on Tuesday. Layne Christensen has a 52 week low of $13.88 and a 52 week high of $23.63. The stock’s 50-day moving average is $17.32 and its 200-day moving average is $18.08. The company’s market cap is $347.5 million.
Layne Christensen (NASDAQ:LAYN) last announced its earnings results on Thursday, December 5th. The company reported ($0.80) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.36) by $0.44. The company had revenue of $216.50 million for the quarter, compared to the consensus estimate of $244.68 million. During the same quarter last year, the company posted $0.45 earnings per share. Layne Christensen’s revenue was down 23.0% compared to the same quarter last year. On average, analysts predict that Layne Christensen will post $-3.39 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group initiated coverage on shares of Layne Christensen in a research note on Monday, January 27th. They set a “hold” rating and a $19.00 price target on the stock. Analysts at UBS AG upgraded shares of Layne Christensen from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. They now have a $16.00 price target on the stock. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Layne Christensen has an average rating of “Hold” and a consensus price target of $17.07.
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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