Layne Christensen Hits 52-Week High (LAYN)

Shares of Layne Christensen Company LAYN are trading up 5.6% at $35.64 per share during the Tuesday morning trading session. The day's trading range for shares of Layne Christensen Company has been between $34.53 and a 52-week high of $36.62 per share. Analysts covering the company's stock give it a consensus price target of $30.70 per share. Volume of 108,000 shares is already well above the daily average volume of 88,000 shares. Layne Christensen Company announced on Tuesday morning that it easily beat consensus Wall Street expectations. Layne Christensen Company (LAYN) announced 3rd quarter earnings per share of 42 cents, on revenue that climbed 23.9% to $269.8 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 30 cents per share, on revenue of $244.66 million. President and chief executive officer Andrew B. Schmitt said, "Layne completed another good quarter paced by continued strong results in our Mineral Exploration division. The Water Infrastructure division results, compared to last year, were better than expected. The Afghanistan water well project for the U.S. Army was a key contributor to this success. That project will likely wrap up over the next two quarters. Layne Energy endured some very low natural gas pricing this quarter which adversely affected their earnings. Going forward, the short-term economic outlook for most of our businesses is stable." Read more from Benzinga's Company news.