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

Layne Christensen (LAYN) traded up $0.01 during midday trading on Tuesday, hitting $12.90. 138,006 shares of the stock traded hands, compared to its average volume of 117,969. Layne Christensen has a 1-year low of $6.98 and a 1-year high of $13.64. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 2.93.

LAYN has been the subject of several research analyst reports. Jefferies Group reissued a “hold” rating and issued a $11.00 target price (up previously from $9.00) on shares of Layne Christensen in a research report on Thursday, September 14th. ValuEngine raised shares of Layne Christensen from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, Zacks Investment Research lowered shares of Layne Christensen from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th.

An institutional investor recently raised its position in Layne Christensen stock. State Street Corp increased its holdings in Layne Christensen Company (NASDAQ:LAYN) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the 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 about 1.41% of Layne Christensen worth $2,465,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 92.03% of the company’s stock.

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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.

Earnings History for Layne Christensen (NASDAQ:LAYN)

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