Layne Christensen (LAYN) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS
Layne Christensen (NASDAQ:LAYN) released its earnings results on Tuesday. The construction company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.07), Briefing.com reports. The company had revenue of $127.43 million during the quarter, compared to the consensus estimate of $131.12 million. Layne Christensen had a negative return on equity of 35.55% and a negative net margin of 12.66%. Layne Christensen’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.26) EPS.
Layne Christensen (LAYN) traded up $0.01 during midday trading on Tuesday, hitting $12.90. 138,006 shares of the stock traded hands, compared to its average volume of 117,969. Layne Christensen has a 1-year low of $6.98 and a 1-year high of $13.64. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 2.93.
LAYN has been the subject of several research analyst reports. Jefferies Group reissued a “hold” rating and issued a $11.00 target price (up previously from $9.00) on shares of Layne Christensen in a research 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 lowered shares of Layne Christensen from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th.
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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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