SeaChange International Stock Rating Reaffirmed by Brean Capital (SEAC)
SeaChange International (NASDAQ:SEAC)‘s stock had its “buy” rating restated by Brean Capital in a research note issued on Wednesday, American Banking & Market News reports. They currently have a $14.00 price objective on the stock, down from their previous price objective of $18.00. Brean Capital’s target price would suggest a potential upside of 15.80% from the stock’s previous close.
The analysts wrote, “Last night, SeaChange pre-announced lower than expected F4Q14 results and gave an initial outlook for F15 that implies little-to-no top-line growth. Management attributed under-performance to delays in both receiving customer orders and obtaining final acceptances for next gen products, and faster than expected attrition of prior gen products. Despite the challenges, independent due diligence confirms a robust pipeline of business, particularly in Europe, and management indicated that it does anticipate picking up all customer acceptances missed in F14 in F15. “We also continue to see SeaChange’s strategic value to a bigger player, given its leading market share in back office and emerging position in RDK-based home gateway software. Therefore, we are maintaining our Buy rating on SEAC. However, it is clear that investors are going to need to wait another year for this to manifest itself into stronger fundamentals. As a result, we are lowering our estimates for F14 and F15, and cutting our price target to $14 from $18.”
SeaChange International (NASDAQ:SEAC) traded down 15.96% on Wednesday, hitting $10.16. The stock had a trading volume of 945,142 shares. SeaChange International has a 52 week low of $9.82 and a 52 week high of $15.25. The stock has a 50-day moving average of $11.98 and a 200-day moving average of $12.34. The company has a market cap of $333.7 million and a P/E ratio of 58.69.
SeaChange International (NASDAQ:SEAC) last released its earnings data on Thursday, December 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.06. The company had revenue of $37.77 million for the quarter, compared to the consensus estimate of $41.45 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that SeaChange International will post $0.41 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Dougherty & Co downgraded shares of SeaChange International from a “buy” rating to a “neutral” rating in a research note on Wednesday. Analysts at TheStreet downgraded shares of SeaChange International to a “hold” rating in a research note on Monday, December 23rd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $18.50.
SeaChange International, Inc (NASDAQ:SEAC) is engaged in the delivery of multi-screen video.
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