Layne Christensen (LAYN) Issues Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Layne Christensen (NASDAQ:LAYN) posted its quarterly earnings results on Tuesday. The construction company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.07), reports. The company had revenue of $127.43 million during the quarter, compared to analysts’ expectations of $131.12 million. Layne Christensen had a negative return on equity of 35.55% and a negative net margin of 12.66%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.26) EPS.

Layne Christensen (NASDAQ:LAYN) traded up $0.01 during mid-day trading on Tuesday, reaching $12.90. 138,006 shares of the company traded hands, compared to its average volume of 117,969. Layne Christensen has a 52 week low of $6.98 and a 52 week high of $13.64. The company has a current ratio of 1.54, a quick ratio of 1.38 and a debt-to-equity ratio of 2.93.

An institutional investor recently raised its position in Layne Christensen stock. State Street Corp increased its stake in Layne Christensen Company (NASDAQ:LAYN) by 9.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 280,282 shares of the construction company’s stock after buying an additional 25,213 shares during the period. State Street Corp owned 1.41% of Layne Christensen worth $2,465,000 as of its most recent SEC filing. 92.03% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on LAYN. Zacks Investment Research downgraded shares of Layne Christensen from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. ValuEngine downgraded shares of Layne Christensen from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $11.00 price target (up previously from $9.00) on shares of Layne Christensen in a research note on Thursday, September 14th.

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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 for Layne Christensen (NASDAQ:LAYN)

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