SeaChange International (SEAC) Issues Q4 Earnings Guidance

SeaChange International (NASDAQ:SEAC) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.02-0.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.08. The company issued revenue guidance of $20-$24 million, compared to the consensus revenue estimate of $22.91 million.

Separately, 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 note on Wednesday, September 13th.

Shares of SeaChange International (SEAC) remained flat at $$2.74 on Wednesday. The stock had a trading volume of 36,100 shares, compared to its average volume of 89,722. SeaChange International has a 52-week low of $2.16 and a 52-week high of $2.99.

SeaChange International (NASDAQ:SEAC) last issued its quarterly earnings results on Monday, December 4th. The software maker reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.10. SeaChange International had a negative return on equity of 15.80% and a negative net margin of 54.54%. The company had revenue of $23.43 million during the quarter, compared to analysts’ expectations of $19.50 million. During the same quarter in the previous year, the firm posted ($0.13) EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. research analysts predict that SeaChange International will post -0.08 earnings per share for the current year.

A hedge fund recently raised its stake in SeaChange International stock. Northern Trust Corp boosted its position in shares of SeaChange International (NASDAQ:SEAC) by 5.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 87,357 shares of the software maker’s stock after acquiring an additional 4,702 shares during the quarter. Northern Trust Corp owned about 0.25% of SeaChange International worth $232,000 at the end of the most recent reporting period. 73.53% of the stock is currently owned by hedge funds and other institutional investors.

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About SeaChange International

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.

Earnings History and Estimates for SeaChange International (NASDAQ:SEAC)

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