Layne Christensen Company (LAYN) Releases Earnings Results, Misses Expectations By $-0.14 EPS

Layne Christensen Company (LAYN) reported quarterly earnings results on Monday, Jun-6-2016. The company reported $-0.45 earnings per share for the quarter, missing the analyst consensus estimate by $-0.14. Analysts had a consensus of $-0.31. The company posted revenue of $159.70 million in the period, compared to analysts expectations of $160.24 million. The company’s revenue was down -8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.55 EPS.

Many Wall Street Analysts have commented on Layne Christensen Company. Company shares were Reiterated by Maxim Group on Apr 18, 2016 to “Buy”, Firm has raised the Price Target to $ 9 from a previous price target of $8 .

Layne Christensen Company opened for trading at $8.84 and hit $9 on the upside on Friday, eventually ending the session at $8.93, with a gain of 0.79% or 0.07 points. The heightened volatility saw the trading volume jump to 63,975 shares. Company has a market cap of $177 M.

In a different news, on Jan 19, 2016, J Michael Anderson (CFO) purchased 2,000 shares at $5.13 per share price. According to the SEC, on Jan 6, 2016, Nelson Obus (director) purchased 289,191 shares at $5.25 per share price. On Dec 28, 2015, David A B Brown (CEO) purchased 15,000 shares at $4.78 per share price, according to the Form-4 filing with the securities and exchange commission.

Layne Christensen Company (Layne) is a water management construction and drilling company. Layne provides water mineral and energy solutions. Its business segments are Water Resources Inliner Heavy Civil Geoconstruction Mineral Services and Energy Services. Water Resources segment provides solutions for water supply system development and technology. Inliner is a service rehabilitation company offering solutions for wastewater storm water and process sewer pipeline networks. Heavy Civil segment delivers solutions to Government agencies and industrial clients by overseeing the design and construction of water and wastewater treatment plants and pipeline installation. Geoconstruction segment provides specialized geotechnical foundation construction services. Mineral Services conducts above ground drilling activities including core drilling reverse circulation dual tube hammer and rotary air-blast methods. Energy Services segment focuses on bringing water management solutions.

Layne Christensen Company

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