Layne Christensen Company (NASDAQ:LAYN) has been given an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Brokers have set a twelve-month consensus price objective of $11.00 for the company and are forecasting that the company will post ($0.04) earnings per share for the current quarter, according to Zacks. Zacks has also given Layne Christensen an industry rank of 160 out of 265 based on the ratings given to related companies.
LAYN has been the topic of several research reports. Jefferies Group LLC reissued a “hold” rating and set a $9.00 price target on shares of Layne Christensen in a research note on Friday, August 4th. ValuEngine raised shares of Layne Christensen from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Finally, Zacks Investment Research raised shares of Layne Christensen from a “strong sell” rating to a “hold” rating and set a $10.00 price target on the stock in a research note on Saturday, June 10th.
Institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. bought a new position in shares of Layne Christensen in the second quarter worth approximately $119,000. Nationwide Fund Advisors grew its holdings in shares of Layne Christensen by 3.0% in the second quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after purchasing an additional 428 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Layne Christensen in the second quarter worth approximately $130,000. Wells Fargo & Company MN grew its holdings in shares of Layne Christensen by 5.3% in the first 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 during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Layne Christensen by 8.8% in the second quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock worth $190,000 after purchasing an additional 1,755 shares during the last quarter. Hedge funds and other institutional investors own 89.27% of the company’s stock.
Shares of Layne Christensen (LAYN) traded up 1.78% during trading on Friday, hitting $12.60. 153,327 shares of the stock traded hands. Layne Christensen has a 1-year low of $6.98 and a 1-year high of $12.63. The company’s market cap is $250.50 million. The stock has a 50-day moving average of $10.65 and a 200 day moving average of $9.11.
Layne Christensen (NASDAQ:LAYN) last announced its earnings results on Monday, September 11th. The construction company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. The business had revenue of $126.20 million for the quarter, compared to the consensus estimate of $122.99 million. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. Layne Christensen’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted ($0.21) earnings per share. On average, equities research analysts predict that Layne Christensen will post ($0.40) EPS for the current fiscal year.
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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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