SeaChange International (NASDAQ:SEAC) Updates FY 2020 Earnings Guidance

SeaChange International (NASDAQ:SEAC) issued an update on its FY 2020 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.03-0.19 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.26. The company issued revenue guidance of $70-80 million, compared to the consensus revenue estimate of $58.88 million.

NASDAQ:SEAC traded up $0.39 during trading hours on Friday, hitting $2.32. 1,417,794 shares of the company traded hands, compared to its average volume of 94,275. SeaChange International has a twelve month low of $1.13 and a twelve month high of $2.48. The firm has a 50-day moving average of $1.88 and a 200 day moving average of $1.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.06 and a quick ratio of 2.03.

SeaChange International (NASDAQ:SEAC) last released its earnings results on Thursday, June 6th. The software maker reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.10). The company had revenue of $8.49 million for the quarter. SeaChange International had a negative net margin of 77.53% and a negative return on equity of 30.21%. Analysts anticipate that SeaChange International will post -0.31 earnings per share for the current year.

Several equities research analysts have issued reports on SEAC shares. ValuEngine raised shares of SeaChange International from a hold rating to a buy rating in a report on Tuesday, July 2nd. Zacks Investment Research raised shares of SeaChange International from a sell rating to a hold rating in a report on Thursday, August 8th.

In other SeaChange International news, insider Mark J. Bonney purchased 126,749 shares of the stock in a transaction on Wednesday, June 12th. The shares were purchased at an average price of $1.50 per share, with a total value of $190,123.50. Following the acquisition, the insider now directly owns 351,527 shares of the company’s stock, valued at approximately $527,290.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert M. Pons purchased 20,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was acquired at an average cost of $1.47 per share, for a total transaction of $29,400.00. Following the acquisition, the director now directly owns 118,039 shares in the company, valued at $173,517.33. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.

SeaChange International Company Profile

SeaChange International, Inc provides multiscreen, advertising, and premium over the top (OTT) video products and services that facilitate the aggregation, licensing, management, and distribution of video and television advertising content worldwide. It offers video products, including SeaChange Adrenalin, a multiscreen video back office platform that enables service providers to manage, monetize, and deliver a seamless viewing experience across televisions, personal computers (PCs), tablets, smartphones, and other IP-enabled devices; and SeaChange AssetFlow, a content management solution, which is used to receive, manage, and publish content for viewing on televisions, tablets, PCs, and other consumer devices, as well as SeaChange Rave, an integrated platform.

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