Layne Christensen (LAYN) Receives Consensus Recommendation of “Hold” from Brokerages
Layne Christensen (NASDAQ:LAYN) has earned an average broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Analysts have set a 1-year consensus price target of $11.00 for the company and are expecting that the company will post ($0.14) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Layne Christensen an industry rank of 72 out of 265 based on the ratings given to related companies.
Several equities analysts recently issued reports on LAYN shares. ValuEngine raised Layne Christensen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. BidaskClub raised Layne Christensen from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Group reissued a “hold” rating and set a $11.00 price target (up from $9.00) on shares of Layne Christensen in a report on Thursday, September 14th. Finally, Zacks Investment Research cut Layne Christensen from a “hold” rating to a “sell” rating in a report on Monday, December 11th.
Several institutional investors have recently modified their holdings of LAYN. Royce & Associates LP lifted its holdings in shares of Layne Christensen by 3.6% in the 2nd quarter. Royce & Associates LP now owns 1,953,571 shares of the construction company’s stock valued at $17,172,000 after acquiring an additional 68,599 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Layne Christensen by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,140,388 shares of the construction company’s stock valued at $10,024,000 after acquiring an additional 5,169 shares during the last quarter. State Street Corp lifted its holdings in shares of Layne Christensen by 9.9% in the 2nd quarter. State Street Corp now owns 280,282 shares of the construction company’s stock valued at $2,465,000 after acquiring an additional 25,213 shares during the last quarter. KBC Group NV lifted its holdings in shares of Layne Christensen by 1.1% in the 2nd quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock valued at $2,010,000 after acquiring an additional 2,515 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Layne Christensen by 4.2% in the 2nd quarter. Northern Trust Corp now owns 218,316 shares of the construction company’s stock valued at $1,919,000 after acquiring an additional 8,767 shares during the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.
Shares of Layne Christensen (NASDAQ LAYN) traded down $0.10 during trading hours on Wednesday, reaching $12.57. The company had a trading volume of 77,837 shares, compared to its average volume of 189,177. Layne Christensen has a 52 week low of $6.98 and a 52 week high of $13.64. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.32 and a current ratio of 1.47. The stock has a market cap of $251.91, a P/E ratio of -3.95 and a beta of 0.48.
Layne Christensen (NASDAQ:LAYN) last posted its earnings results on Tuesday, December 5th. The construction company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Layne Christensen had a negative return on equity of 40.46% and a negative net margin of 12.73%. The firm had revenue of $127.43 million for the quarter, compared to analysts’ expectations of $131.12 million. During the same quarter last year, the company posted ($0.26) EPS. The firm’s revenue was up 5.7% on a year-over-year basis. equities research analysts anticipate that Layne Christensen will post -0.51 earnings per share for the current fiscal year.
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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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