Brokers Issue Forecasts for Layne Christensen’s FY2018 Earnings (LAYN)

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) traded up $0.06 during trading hours on Monday, reaching $12.06. 133,295 shares of the company traded hands, compared to its average volume of 123,192. Layne Christensen has a 1-year low of $6.98 and a 1-year 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.

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.

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

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