Secureworks Corp (NASDAQ:SCWX) Expected to Post Earnings of -$0.01 Per Share

Wall Street analysts forecast that Secureworks Corp (NASDAQ:SCWX) will post earnings per share of ($0.01) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Secureworks’ earnings, with the lowest EPS estimate coming in at ($0.02) and the highest estimate coming in at $0.00. Secureworks reported earnings of $0.02 per share during the same quarter last year, which indicates a negative year over year growth rate of 150%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Friday, March 27th.

On average, analysts expect that Secureworks will report full-year earnings of ($0.03) per share for the current financial year, with EPS estimates ranging from ($0.04) to ($0.02). For the next fiscal year, analysts anticipate that the company will report earnings of $0.01 per share, with EPS estimates ranging from ($0.14) to $0.12. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Secureworks.

A number of research firms recently issued reports on SCWX. BidaskClub raised Secureworks from a “strong sell” rating to a “sell” rating in a report on Tuesday. ValuEngine raised Secureworks from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Goldman Sachs Group raised Secureworks from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $10.00 in a report on Friday, March 20th. TheStreet raised Secureworks from a “d+” rating to a “c-” rating in a report on Wednesday, January 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Secureworks in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $12.40.

A number of large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP acquired a new position in shares of Secureworks in the 1st quarter valued at $3,519,000. Millennium Management LLC boosted its position in shares of Secureworks by 1,276.0% in the 3rd quarter. Millennium Management LLC now owns 114,069 shares of the technology company’s stock valued at $1,474,000 after purchasing an additional 123,769 shares during the period. Marshall Wace LLP boosted its position in shares of Secureworks by 120.2% in the 4th quarter. Marshall Wace LLP now owns 162,727 shares of the technology company’s stock valued at $2,711,000 after purchasing an additional 88,834 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Secureworks in the 4th quarter valued at $1,339,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Secureworks in the 4th quarter valued at $1,267,000. 9.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SCWX traded up $0.83 during trading hours on Monday, reaching $11.92. 217,170 shares of the company’s stock traded hands, compared to its average volume of 146,265. The firm has a market capitalization of $969.07 million, a price-to-earnings ratio of -24.83 and a beta of 1.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.09 and a quick ratio of 1.09. Secureworks has a twelve month low of $5.29 and a twelve month high of $20.01. The business’s fifty day simple moving average is $13.26 and its two-hundred day simple moving average is $13.66.

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.

Featured Story: Do back-end load funds outperform no-load funds?

Get a free copy of the Zacks research report on Secureworks (SCWX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Secureworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Secureworks and related companies with MarketBeat.com's FREE daily email newsletter.