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

Wall Street brokerages expect that Secureworks Corp (NASDAQ:SCWX) will post ($0.03) earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Secureworks’ earnings. The highest EPS estimate is ($0.03) and the lowest is ($0.04). Secureworks posted earnings of $0.06 per share during the same quarter last year, which indicates a negative year over year growth rate of 150%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, December 5th.

According to Zacks, analysts expect that Secureworks will report full-year earnings of ($0.09) per share for the current fiscal year, with EPS estimates ranging from ($0.11) to ($0.08). For the next financial year, analysts expect that the firm will post earnings of ($0.02) per share, with EPS estimates ranging from ($0.09) to $0.08. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Secureworks.

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

A number of research analysts recently issued reports on the stock. ValuEngine downgraded shares of Secureworks from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Goldman Sachs Group initiated coverage on Secureworks in a research report on Tuesday, November 12th. They set a “sell” rating and a $12.00 price target on the stock. Zacks Investment Research lowered Secureworks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. TheStreet cut Secureworks from a “c-” rating to a “d+” rating in a report on Wednesday, August 7th. Finally, BidaskClub downgraded shares of Secureworks from a “sell” rating to a “strong sell” rating in a report on Thursday, November 14th. Four analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Secureworks currently has a consensus rating of “Hold” and a consensus target price of $14.64.

Large investors have recently made changes to their positions in the company. ETF Managers Group LLC boosted its holdings in Secureworks by 51.2% in the 2nd quarter. ETF Managers Group LLC now owns 988,476 shares of the technology company’s stock valued at $13,196,000 after purchasing an additional 334,525 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Secureworks by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 651,979 shares of the technology company’s stock worth $8,665,000 after acquiring an additional 4,384 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Secureworks by 5.8% in the 2nd quarter. BlackRock Inc. now owns 628,892 shares of the technology company’s stock worth $8,359,000 after acquiring an additional 34,404 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Secureworks by 15.1% in the 2nd quarter. Wells Fargo & Company MN now owns 199,566 shares of the technology company’s stock worth $2,652,000 after acquiring an additional 26,251 shares during the period. Finally, First Trust Advisors LP purchased a new position in Secureworks in the 1st quarter valued at approximately $3,519,000. 8.79% of the stock is owned by institutional investors and hedge funds.

NASDAQ:SCWX opened at $11.07 on Friday. The firm has a market capitalization of $1.05 billion, a P/E ratio of -69.19 and a beta of 1.06. Secureworks has a 1-year low of $10.37 and a 1-year high of $24.91. The company’s fifty day moving average price is $11.92 and its 200-day moving average price is $12.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.07 and a quick ratio of 1.07.

Secureworks Company Profile

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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