SeaChange (SEAC) Releases Quarterly Earnings, Beats Expectations By $0.01 EPS

SeaChange (NASDAQ: SEAC) posted its quarterly earnings results on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01, AnalystRatingsNetwork reports. The company had revenue of $35.60 million for the quarter, compared to the consensus estimate of $35.26 million. During the same quarter last year, the company posted $0.06 earnings per share. SeaChange’s revenue was down 2.7% compared to the same quarter last year. SeaChange updated its Q2 guidance to $0.07-$0.10 EPS and its FY14 guidance to $0.53-$0.71 EPS.

A number of research firms have also recently commented on SEAC. Analysts at TheStreet upgraded shares of SeaChange from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, May 15th. On a related note, analysts at Maxim Group raised their price target on shares of SeaChange from $12.00 to $14.00 in a research note to investors on Wednesday, April 10th. They now have a “buy” rating on the stock.

One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $13.42.

SeaChange (NASDAQ: SEAC) traded up 1.23% on Thursday, hitting $10.67. SeaChange has a 1-year low of $7.00 and a 1-year high of $12.10. The stock’s 50-day moving average is currently $11.39. The company’s market cap is $348.0 million.

SeaChange International, Inc. (NASDAQ: SEAC) is a developer, manufacturer and marketer of digital video systems and services.

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