Layne Christensen (LAYN) – Analysts’ Recent Ratings Changes
A number of firms have modified their ratings and price targets on shares of Layne Christensen (NASDAQ: LAYN) recently:
- 9/12/2016 – Layne Christensen had its “neutral” rating reaffirmed by analysts at DA Davidson. They wrote, “We hosted meetings with CEO Todd Adams, where discussion focus areas included operational excellence, SCOFR, end-market/competitive dynamics, and M&A strategy. We came away incrementally positive on RBS initiatives and SCOFR benefits supporting EBITDA margin expansion over the next several years, and management’s confidence in non-residential construction tailwinds sustaining through ’17 very much aligns with our positive stance (as we framed in mid-July note here). Business portfolio moves (e.g., past dispositions, recent Cambridge acquisition) demonstrate RXN’s seeking less cyclical exposure while maintaining a focus on areas where sustainable advantages can be leveraged.””
- 9/11/2016 – Layne Christensen was given a new $9.00 price target on by analysts at DA Davidson. They now have a “hold” rating on the stock.
- 9/10/2016 – Layne Christensen was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Layne Christensen Company provides drilling services and related products and services in four principal markets: water-related products and services, mineral exploration drilling, geotechnical construction and oil and gas services and production. Layne Christensen’s customers include municipalities, industrial companies, mining companies, oil and gas companies and consulting and engineering firms. “
- 9/8/2016 – Layne Christensen was given a new $7.80 price target on by analysts at Jefferies Group. They now have a “hold” rating on the stock.
- 9/7/2016 – Layne Christensen was upgraded by analysts at TheStreet from a “sell” rating to a “hold” rating.
- 8/15/2016 – Layne Christensen had its “hold” rating reaffirmed by analysts at Jefferies Group.
Shares of Layne Christensen Co. (NASDAQ:LAYN) traded down 0.61% during mid-day trading on Wednesday, hitting $8.17. 130,785 shares of the company traded hands. The stock’s market capitalization is $161.81 million. The firm has a 50-day moving average of $8.75 and a 200-day moving average of $8.16. Layne Christensen Co. has a one year low of $3.75 and a one year high of $9.56.
Layne Christensen (NASDAQ:LAYN) last issued its earnings results on Tuesday, September 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.06. The company had revenue of $159.05 million for the quarter, compared to the consensus estimate of $164.19 million. Layne Christensen had a negative return on equity of 23.75% and a negative net margin of 5.25%. The firm’s revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.19) earnings per share. On average, equities analysts predict that Layne Christensen Co. will post ($1.00) earnings per share for the current year.
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 four segments: Water Resources, Inliner, Heavy Civil and Mineral Services.
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