SeaChange International (NASDAQ:SEAC) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.02-0.10 for the period, compared to the Thomson Reuters consensus earnings per share 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 downgraded shares of SeaChange International from a buy rating to a hold rating in a research report on Wednesday, August 9th.

SeaChange International (NASDAQ SEAC) remained flat at $$2.74 during midday trading on Wednesday. 36,100 shares of the stock were exchanged, compared to its average volume of 89,722. SeaChange International has a 1-year low of $2.16 and a 1-year high of $2.99.

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

An institutional investor recently raised its position in SeaChange International stock. Northern Trust Corp increased its stake 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 Securities and Exchange Commission (SEC). The institutional investor owned 87,357 shares of the software maker’s stock after purchasing an additional 4,702 shares during the quarter. Northern Trust Corp owned approximately 0.25% of SeaChange International worth $232,000 at the end of the most recent reporting period. 73.53% of the stock is owned by institutional investors and hedge funds.

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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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