Secureworks Corp (NASDAQ:SCWX) Expected to Post Earnings of -$0.03 Per Share

Equities research analysts forecast that Secureworks Corp (NASDAQ:SCWX) will announce ($0.03) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Secureworks’ earnings, with the highest EPS estimate coming in at ($0.03) and the lowest estimate coming in at ($0.04). Secureworks posted earnings of $0.06 per share in the same quarter last year, which would indicate a negative year over year growth rate of 150%. The firm is scheduled to issue its next earnings results on Thursday, December 5th.

According to Zacks, analysts expect that Secureworks will report full-year earnings of ($0.09) per share for the current financial year, with EPS estimates ranging from ($0.11) to ($0.08). For the next year, analysts anticipate that the company will post earnings of ($0.02) per share, with EPS estimates ranging from ($0.09) to $0.08. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Secureworks.

Secureworks (NASDAQ:SCWX) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. Secureworks had a negative return on equity of 1.61% and a negative net margin of 6.38%. The business had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $133.02 million. During the same quarter last year, the company posted ($0.01) earnings per share. Secureworks’s quarterly revenue was up 6.1% on a year-over-year basis.

A number of brokerages have recently issued reports on SCWX. ValuEngine cut Secureworks from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. BidaskClub cut Secureworks from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded Secureworks from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, September 12th. Morgan Stanley set a $14.00 price target on Secureworks and gave the company a “hold” rating in a research note on Thursday, June 6th. Finally, TheStreet cut Secureworks from a “c-” rating to a “d+” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Secureworks presently has a consensus rating of “Hold” and a consensus price target of $15.08.

Shares of NASDAQ:SCWX remained flat at $$12.34 during trading on Friday. The stock had a trading volume of 651,824 shares, compared to its average volume of 134,471. Secureworks has a 12 month low of $10.37 and a 12 month high of $24.91. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -77.13 and a beta of 1.12. The company’s 50 day moving average is $12.12 and its 200-day moving average is $15.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.07.

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its holdings in shares of Secureworks by 363.6% during the first quarter. BNP Paribas Arbitrage SA now owns 1,947 shares of the technology company’s stock worth $36,000 after buying an additional 1,527 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Secureworks by 3.3% during the second quarter. Northern Trust Corp now owns 106,576 shares of the technology company’s stock worth $1,416,000 after buying an additional 3,441 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Secureworks during the first quarter worth $65,000. Vanguard Group Inc. increased its holdings in shares of Secureworks by 0.7% during the second quarter. Vanguard Group Inc. now owns 651,979 shares of the technology company’s stock worth $8,665,000 after buying an additional 4,384 shares in the last quarter. Finally, Meitav Dash Investments Ltd. increased its holdings in shares of Secureworks by 31.4% during the first quarter. Meitav Dash Investments Ltd. now owns 20,082 shares of the technology company’s stock worth $354,000 after buying an additional 4,804 shares in the last quarter. Institutional investors and hedge funds own 10.65% of the company’s stock.

About Secureworks

SecureWorks Corp., a cybersecurity company, provides an integrated suite of intelligence-driven information security solutions focused on protecting organizations worldwide. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response.

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