Zacks: Brokerages Anticipate Secureworks Corp (NASDAQ:SCWX) Will Post Earnings of -$0.04 Per Share

Equities analysts forecast that Secureworks Corp (NASDAQ:SCWX) will announce earnings of ($0.04) per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Secureworks’ earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at ($0.04). Secureworks posted earnings of ($0.01) per share during the same quarter last year, which indicates a negative year over year growth rate of 300%. The business is expected to announce its next quarterly earnings report on Wednesday, September 4th.

According to Zacks, analysts expect that Secureworks will report full year earnings of ($0.12) per share for the current financial year, with EPS estimates ranging from ($0.14) to ($0.10). For the next year, analysts anticipate that the company will post earnings of ($0.02) per share, with EPS estimates ranging from ($0.12) to $0.07. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Secureworks.

Secureworks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, June 5th. The technology company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.08. The company had revenue of $132.80 million for the quarter, compared to analysts’ expectations of $132.10 million. Secureworks had a negative return on equity of 1.51% and a negative net margin of 6.39%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share.



A number of research firms have recently commented on SCWX. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research raised Hudson Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Morgan Stanley set a $14.00 target price on Secureworks and gave the stock a “hold” rating in a research note on Thursday, June 6th. TheStreet raised Secureworks from a “d+” rating to a “c-” rating in a research note on Monday, April 22nd. Finally, BidaskClub cut Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $15.25.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its stake in shares of Secureworks by 363.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,947 shares of the technology company’s stock worth $36,000 after acquiring an additional 1,527 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Secureworks during the first quarter valued at $65,000. SG Americas Securities LLC purchased a new stake in shares of Secureworks during the first quarter valued at $137,000. New York State Common Retirement Fund boosted its position in shares of Secureworks by 138.6% during the fourth quarter. New York State Common Retirement Fund now owns 10,500 shares of the technology company’s stock valued at $177,000 after buying an additional 6,100 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of Secureworks during the fourth quarter valued at $203,000. 10.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ SCWX traded down $0.22 during trading on Tuesday, reaching $12.99. The company had a trading volume of 358,880 shares, compared to its average volume of 185,335. Secureworks has a 12-month low of $10.58 and a 12-month high of $24.91. The stock has a market cap of $1.06 billion, a PE ratio of -81.19 and a beta of 1.15. The business’s 50-day moving average is $13.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.08 and a current ratio of 1.09.

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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