SeaChange International (SEAC) Releases Q3 Earnings Guidance
SeaChange International (NASDAQ:SEAC) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ($0.09)-($0.05) for the period, compared to the Thomson Reuters consensus estimate of $0.07, American Banking & Market News reports. The company issued revenue guidance of $29-32 million, compared to the consensus revenue estimate of $35.88 million.SeaChange International also updated its FY15 guidance to ($0.12)-$0.02 EPS.
On a related note, analysts at Brean Capital cut their price target on shares of SeaChange International from $14.00 to $11.00 in a research note on Friday, June 6th. They now have a buy rating on the stock. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $19.00.
Shares of SeaChange International (NASDAQ:SEAC) traded up 5.20% during mid-day trading on Thursday, hitting $7.89. 311,681 shares of the company’s stock traded hands. SeaChange International has a 52-week low of $7.17 and a 52-week high of $15.25. The stock has a 50-day moving average of $7.59 and a 200-day moving average of $9.03. The company’s market cap is $259.0 million.
SeaChange International (NASDAQ:SEAC) last posted its quarterly earnings results on Thursday, September 4th. The company reported ($0.08) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.18) by $0.10. The company had revenue of $29.80 million for the quarter, compared to the consensus estimate of $26.80 million. During the same quarter last year, the company posted $0.10 earnings per share. SeaChange International’s revenue was down 20.3% compared to the same quarter last year. Analysts expect that SeaChange International will post $-0.19 EPS for the current fiscal year.
SeaChange International, Inc (NASDAQ:SEAC) is engaged in the delivery of multi-screen video.
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