SeaChange International, Inc. (SEAC) Set to Announce Quarterly Earnings on Wednesday
SeaChange International, Inc. (NASDAQ:SEAC) will issue its quarterly earnings data after the market closes on Wednesday, August 23rd. Analysts expect the company to announce earnings of ($0.06) per share for the quarter.
SeaChange International (NASDAQ:SEAC) last issued its quarterly earnings results on Tuesday, June 6th. The software maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.12. SeaChange International had a negative net margin of 85.83% and a negative return on equity of 20.62%. The firm had revenue of $16.67 million for the quarter, compared to analysts’ expectations of $16.88 million. During the same period in the previous year, the business earned ($0.20) earnings per share. SeaChange International’s revenue for the quarter was down 22.8% compared to the same quarter last year. On average, analysts expect SeaChange International to post $-0.03 EPS for the current fiscal year and $0.09 EPS for the next fiscal year.
Shares of SeaChange International, Inc. (NASDAQ:SEAC) opened at 2.63 on Wednesday. The firm has a 50-day moving average of $2.75 and a 200 day moving average of $2.55. The company’s market capitalization is $92.92 million. SeaChange International, Inc. has a 12 month low of $2.05 and a 12 month high of $3.35.
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SEAC has been the topic of several recent research reports. ValuEngine upgraded SeaChange International from a “strong sell” rating to a “sell” rating in a report on Thursday, June 8th. Zacks Investment Research upgraded SeaChange International from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Wednesday, June 14th.
A hedge fund recently raised its stake in SeaChange International stock. Northern Trust Corp boosted its stake in shares of SeaChange International, Inc. (NASDAQ:SEAC) by 5.7% during the second quarter, according to its most recent filing with the SEC. 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 0.25% of SeaChange International worth $232,000 as of its most recent SEC filing. 75.53% of the stock is owned by hedge funds and other institutional investors.
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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