Q3 2018 Earnings Forecast for Layne Christensen Company Issued By Jefferies Group (LAYN)
Layne Christensen Company (NASDAQ:LAYN) – Equities researchers at Jefferies Group raised their Q3 2018 earnings per share (EPS) estimates for Layne Christensen in a report released on Tuesday. Jefferies Group analyst M. Englert now forecasts that the construction company will post earnings of ($0.04) per share for the quarter, up from their prior forecast of ($0.10). Jefferies Group currently has a “Hold” rating and a $11.00 target price on the stock. Jefferies Group also issued estimates for Layne Christensen’s Q4 2018 earnings at ($0.05) EPS, FY2018 earnings at ($0.36) EPS and FY2019 earnings at $0.51 EPS.
Several other research analysts have also recently issued reports on the company. ValuEngine upgraded Layne Christensen from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Zacks Investment Research upgraded Layne Christensen from a “strong sell” rating to a “hold” rating and set a $10.00 price target for the company in a research report on Saturday, June 10th.
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Shares of Layne Christensen (NASDAQ:LAYN) traded down 0.08% during midday trading on Friday, reaching $12.25. 131,727 shares of the company traded hands. The stock’s 50-day moving average is $10.51 and its 200-day moving average is $9.06. Layne Christensen has a 1-year low of $6.98 and a 1-year high of $12.33. The stock’s market capitalization is $242.61 million.
Layne Christensen (NASDAQ:LAYN) last issued its quarterly earnings results on Monday, September 11th. The construction company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.07. The company had revenue of $126.20 million during the quarter, compared to analyst estimates of $122.99 million. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) EPS.
A number of institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors increased its position in Layne Christensen by 3.0% during the 2nd quarter. Nationwide Fund Advisors now owns 14,565 shares of the construction company’s stock worth $128,000 after purchasing an additional 428 shares in the last quarter. Wells Fargo & Company MN increased its position in Layne Christensen by 5.3% during the 1st quarter. Wells Fargo & Company MN now owns 17,000 shares of the construction company’s stock worth $151,000 after purchasing an additional 855 shares in the last quarter. Rhumbline Advisers increased its position in Layne Christensen by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 21,629 shares of the construction company’s stock worth $190,000 after purchasing an additional 1,755 shares in the last quarter. KBC Group NV increased its position in Layne Christensen by 1.1% during the 2nd quarter. KBC Group NV now owns 228,653 shares of the construction company’s stock worth $2,010,000 after purchasing an additional 2,515 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in Layne Christensen by 11.5% during the 2nd quarter. Teachers Advisors LLC now owns 35,051 shares of the construction company’s stock worth $308,000 after purchasing an additional 3,619 shares in the last quarter. Hedge funds and other institutional investors own 89.27% of the company’s stock.
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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