Details to UBS Downgrade of Layne Christensen (LAYN); Recent Data Suggests Weak Mining Markets

Article Stock Quotes (1) Comments (0)

UPDATE from yesterday's mid-day call: UBS downgraded Layne Christensen (Nasdaq: LAYN) from Neutral to Sell. Price target cut from $21 to $17.

Analyst, Steven Fisher, said the downgrade was to reflect our expectation that earnings are going to come under pressure from weakening mining markets, combined with still weak conditions in municipal water markets affecting LAYN's Heavy Civil business, and continued low natural gas prices pressuring Layne Energy."

FY13 EPS estimates were lowered from $1.40 to $1.30 and FY14 from $1.90 to $1.70.

To see more ratings on LAYN, Click Here

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
• UPDATE: JPMorgan Cuts SodaStream (SODA) to Neutral, 'Stock No Longer Cheap'
• Deutsche Bank Downgrades Signet Jewelers (SIG) to Hold

Create E-mail Alert Related Categories

Analyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades

Related Entities

UBS, Earnings

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?