SeaChange (SEAC) Updates FY14 Earnings Guidance

SeaChange (NASDAQ: SEAC) updated its FY14 earnings guidance on Thursday. The company provided earnings per share guidance of $0.53-$0.71 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.60, AnalystRatingsNetwork reports. The company issued revenue guidance of $165-$175 million, compared to the consensus revenue estimate of $169.05 million.SeaChange also updated its Q2 guidance to $0.07-$0.10 EPS.

Shares of SeaChange (NASDAQ: SEAC) traded up 1.23% during mid-day trading on Thursday, hitting $10.67. SeaChange has a one year low of $7.00 and a one 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 (NASDAQ: SEAC) last released its earnings data on Thursday, June 6th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.01. The company had revenue of $35.60 million for the quarter, compared to the consensus estimate of $35.26 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. SeaChange has set its Q2 guidance at $0.07-$0.10 EPS and its FY14 guidance at $0.53-$0.71 EPS. On average, analysts predict that SeaChange will post $0.65 earnings per share for the current fiscal year.

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 equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $13.42.

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

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