Layne Christensen (NASDAQ:LAYN) – Stock analysts at Jefferies Group reduced their FY2018 EPS estimates for shares of Layne Christensen in a research report issued on Wednesday. Jefferies Group analyst M. Englert now expects that the construction company will post earnings per share of ($0.51) for the year, down from their previous estimate of ($0.36). Jefferies Group has a “Hold” rating and a $11.00 price objective on the stock. Jefferies Group also issued estimates for Layne Christensen’s Q4 2018 earnings at ($0.14) EPS and FY2019 earnings at $0.36 EPS.
Other equities research analysts have also issued research reports about the stock. ValuEngine raised shares of Layne Christensen from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Zacks Investment Research lowered shares of Layne Christensen from a “hold” rating to a “sell” rating in a research note on Monday.
Layne Christensen (NASDAQ:LAYN) last announced 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 net margin of 12.73% and a negative return on equity of 40.46%. The company had revenue of $127.43 million for the quarter, compared to the consensus estimate of $131.12 million. During the same period in the previous year, the firm posted ($0.26) EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis.
A number of large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new stake in Layne Christensen during the third quarter worth about $384,000. Jane Street Group LLC bought a new stake in Layne Christensen during the third quarter worth about $162,000. Wells Fargo & Company MN boosted its stake in Layne Christensen by 287.9% during the third quarter. Wells Fargo & Company MN now owns 157,745 shares of the construction company’s stock worth $1,980,000 after acquiring an additional 117,075 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Layne Christensen by 1,479.5% in the third quarter. JPMorgan Chase & Co. now owns 65,155 shares of the construction company’s stock worth $807,000 after buying an additional 61,030 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Layne Christensen by 179.7% in the third quarter. Oppenheimer & Co. Inc. now owns 132,300 shares of the construction company’s stock worth $1,660,000 after buying an additional 85,000 shares during the last quarter. 92.12% of the stock is currently owned by institutional investors and hedge funds.
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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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