SeaChange International, Inc. (SEAC) Updates Q3 Earnings Guidance
SeaChange International, Inc. (NASDAQ:SEAC) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.00-0.03 for the period, compared to the Thomson Reuters consensus earnings per share 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.
Shares of SeaChange International, Inc. (NASDAQ SEAC) traded down 0.38% during trading on Wednesday, hitting $2.63. The stock had a trading volume of 27,462 shares. SeaChange International, Inc. has a one year low of $2.05 and a one year high of $3.10. The stock’s 50-day moving average price is $2.70 and its 200-day moving average price is $2.57. The company’s market cap is $92.92 million.
SeaChange International (NASDAQ:SEAC) last issued its quarterly earnings data on Tuesday, June 6th. The software maker reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.12. SeaChange International had a negative return on equity of 20.62% and a negative net margin of 85.83%. The firm had revenue of $16.67 million during the quarter, compared to analyst estimates of $16.88 million. During the same quarter last year, the firm earned ($0.20) EPS. SeaChange International’s quarterly revenue was down 22.8% on a year-over-year basis. On average, equities research analysts forecast that SeaChange International, Inc. will post ($0.03) EPS for the current fiscal year.
Several brokerages recently issued reports on SEAC. Zacks Investment Research downgraded SeaChange International from a buy rating to a hold rating in a report on Wednesday, August 9th. ValuEngine raised SeaChange International from a strong sell rating to a sell rating in a research note on Thursday, June 8th.
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A hedge fund recently raised its stake in SeaChange International stock. Northern Trust Corp increased its holdings in shares of SeaChange International, Inc. (NASDAQ:SEAC) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,357 shares of the software maker’s stock after buying an additional 4,702 shares during the quarter. Northern Trust Corp owned 0.25% of SeaChange International worth $232,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 71.76% of the company’s stock.
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.
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