Analysts Anticipate Layne Christensen Company (LAYN) to Announce ($0.18) EPS
Layne Christensen Company (NASDAQ:LAYN) has earned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Brokers have set a 1-year consensus price objective of $9.00 for the company and are forecasting that the company will post ($0.18) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Layne Christensen an industry rank of 162 out of 265 based on the ratings given to its competitors.
Several analysts recently issued reports on LAYN shares. ValuEngine raised Layne Christensen from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Zacks Investment Research raised Layne Christensen from a “strong sell” rating to a “hold” rating and set a $10.00 target price on the stock in a research note on Saturday, June 10th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $9.00 target price on shares of Layne Christensen in a research note on Friday, August 4th.
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Layne Christensen (LAYN) opened at 10.97 on Friday. The firm’s market cap is $217.26 million. The stock has a 50 day moving average of $10.31 and a 200 day moving average of $8.98. Layne Christensen has a 12-month low of $6.98 and a 12-month high of $11.42.
Layne Christensen (NASDAQ:LAYN) last posted its quarterly earnings data on Thursday, June 8th. The construction company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.14. Layne Christensen had a negative return on equity of 31.94% and a negative net margin of 11.98%. The firm had revenue of $111.51 million for the quarter, compared to the consensus estimate of $111.25 million. During the same quarter last year, the company earned ($0.45) earnings per share. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Layne Christensen will post ($0.45) EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors raised its stake in Layne Christensen by 3.0% during the 2nd quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock valued at $128,000 after purchasing an additional 428 shares during the period. Wells Fargo & Company MN raised its stake in Layne Christensen by 5.3% during the 1st quarter. Wells Fargo & Company MN now owns 17,000 shares of the construction company’s stock valued at $151,000 after purchasing an additional 855 shares during the period. Rhumbline Advisers raised its stake in Layne Christensen by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock valued at $190,000 after purchasing an additional 1,755 shares during the period. KBC Group NV raised its stake in Layne Christensen by 1.1% during the 2nd quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock valued at $2,010,000 after purchasing an additional 2,515 shares during the period. Finally, Teachers Advisors LLC raised its stake in Layne Christensen by 11.5% during the 2nd quarter. Teachers Advisors LLC now owns 35,051 shares of the construction company’s stock valued at $308,000 after purchasing an additional 3,619 shares during the period. 89.27% of the stock is currently owned by institutional investors.
About Layne Christensen
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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