Layne Christensen Company (NASDAQ:LAYN) – Equities researchers at Jefferies Group raised their Q3 2018 earnings per share (EPS) estimates for Layne Christensen in a report released on Tuesday. Jefferies Group analyst M. Englert now forecasts that the construction company will post earnings of ($0.04) per share for the quarter, up from their prior forecast of ($0.10). Jefferies Group currently has a “Hold” rating and a $11.00 target price on the stock. Jefferies Group also issued estimates for Layne Christensen’s Q4 2018 earnings at ($0.05) EPS, FY2018 earnings at ($0.36) EPS and FY2019 earnings at $0.51 EPS.

Several other research analysts have also recently issued reports on the company. ValuEngine upgraded Layne Christensen from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Zacks Investment Research upgraded Layne Christensen from a “strong sell” rating to a “hold” rating and set a $10.00 price target for the company in a research report on Saturday, June 10th.

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Shares of Layne Christensen (NASDAQ:LAYN) traded down 0.08% during midday trading on Friday, reaching $12.25. 131,727 shares of the company traded hands. The stock’s 50-day moving average is $10.51 and its 200-day moving average is $9.06. Layne Christensen has a 1-year low of $6.98 and a 1-year high of $12.33. The stock’s market capitalization is $242.61 million.

Layne Christensen (NASDAQ:LAYN) last issued its quarterly earnings results on Monday, September 11th. The construction company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.07. The company had revenue of $126.20 million during the quarter, compared to analyst estimates of $122.99 million. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. The firm’s 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.

A number of institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors increased its position in Layne Christensen by 3.0% during the 2nd quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after purchasing an additional 428 shares in the last quarter. Wells Fargo & Company MN increased its position 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 worth $151,000 after purchasing an additional 855 shares in the last quarter. Rhumbline Advisers increased its position in Layne Christensen by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock worth $190,000 after purchasing an additional 1,755 shares in the last quarter. KBC Group NV increased its position in Layne Christensen by 1.1% during the 2nd quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock worth $2,010,000 after purchasing an additional 2,515 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in Layne Christensen by 11.5% during the 2nd quarter. Teachers Advisors LLC now owns 35,051 shares of the construction company’s stock worth $308,000 after purchasing an additional 3,619 shares in the last quarter. Hedge funds and other institutional investors own 89.27% of the company’s stock.

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.

Earnings History and Estimates for Layne Christensen (NASDAQ:LAYN)

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