Layne Christensen (LAYN) Posts Earnings Results, Misses Expectations By $0.07 EPS
Layne Christensen (NASDAQ:LAYN) released its quarterly earnings data on Tuesday. The construction company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.07), Briefing.com reports. Layne Christensen had a negative net margin of 12.66% and a negative return on equity of 35.55%. The firm had revenue of $127.43 million during the quarter, compared to the consensus estimate of $131.12 million. During the same quarter in the prior year, the company earned ($0.26) EPS. Layne Christensen’s quarterly revenue was up 5.7% on a year-over-year basis.
Layne Christensen (NASDAQ:LAYN) opened at $12.90 on Wednesday. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.54 and a quick ratio of 1.38. Layne Christensen has a one year low of $6.98 and a one year high of $13.64.
LAYN has been the subject of a number of research analyst reports. ValuEngine raised shares of Layne Christensen from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Jefferies Group reaffirmed a “hold” rating and issued a $11.00 target price (up from $9.00) on shares of Layne Christensen in a research note on Thursday, September 14th. Finally, Zacks Investment Research lowered shares of Layne Christensen from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th.
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Layne Christensen Company Profile
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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