SeaChange International, Inc. (NASDAQ:SEAC) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.00-0.03 for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.01). The company issued revenue guidance of $19-21 million, compared to the consensus revenue estimate of $20.34 million.SeaChange International also updated its FY18 guidance to ($0.03)-0.02 EPS.
A number of research firms have commented on SEAC. Zacks Investment Research upgraded SeaChange International from a hold rating to a buy rating and set a $3.00 target price on the stock in a research report on Wednesday. ValuEngine upgraded SeaChange International from a strong sell rating to a sell rating in a research report on Thursday, June 8th.
SeaChange International, Inc. (NASDAQ SEAC) traded up 0.38% during mid-day trading on Wednesday, reaching $2.64. The company’s stock had a trading volume of 53,862 shares. The firm’s market capitalization is $93.68 million. SeaChange International, Inc. has a 52 week low of $2.05 and a 52 week high of $3.10. The firm’s 50 day moving average price is $2.68 and its 200 day moving average price is $2.57.
SeaChange International (NASDAQ:SEAC) last issued its earnings results on Wednesday, September 6th. The software maker reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The business had revenue of $17.20 million during the quarter, compared to analysts’ expectations of $17.94 million. SeaChange International had a negative return on equity of 15.80% and a negative net margin of 54.54%. SeaChange International’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) earnings per share. On average, analysts anticipate that SeaChange International, Inc. will post ($0.01) EPS for the current fiscal year.
A hedge fund recently raised its stake in SeaChange International stock. Northern Trust Corp lifted its holdings in SeaChange International, Inc. (NASDAQ:SEAC) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,357 shares of the software maker’s stock after buying an additional 4,702 shares during the period. Northern Trust Corp owned about 0.25% of SeaChange International worth $232,000 as of its most recent SEC filing. Institutional investors own 71.76% of the company’s stock.
SeaChange International Company Profile
SeaChange International, Inc (SeaChange) is engaged in the delivery of multiscreen video. The Company’s products and services facilitate the aggregation, licensing, management and distribution of video and advertising content for cable television system operators, telecommunications companies, satellite operators and media companies.
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