Zacks: Brokerages Expect SecureWorks Corp. (SCWX) Will Announce Earnings of -$0.11 Per Share

Brokerages forecast that SecureWorks Corp. (NASDAQ:SCWX) will post earnings of ($0.11) per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for SecureWorks Corp.’s earnings, with estimates ranging from ($0.11) to ($0.10). SecureWorks Corp. reported earnings of ($0.09) per share during the same quarter last year, which suggests a negative year over year growth rate of 22.2%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that SecureWorks Corp. will report full year earnings of ($0.43) per share for the current fiscal year, with EPS estimates ranging from ($0.45) to ($0.39). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.25) per share, with EPS estimates ranging from ($0.33) to ($0.20). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow SecureWorks Corp..

SecureWorks Corp. (NASDAQ:SCWX) last issued its quarterly earnings data on Tuesday, June 6th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by $0.02. SecureWorks Corp. had a negative return on equity of 3.82% and a negative net margin of 9.21%. The company had revenue of $113.70 million during the quarter, compared to analyst estimates of $110.70 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The business’s revenue was up 13.9% compared to the same quarter last year.

A number of equities research analysts recently issued reports on SCWX shares. Barclays PLC restated a “hold” rating and issued a $11.00 target price on shares of SecureWorks Corp. in a report on Wednesday, June 7th. UBS AG restated a “neutral” rating and issued a $11.00 target price (down from $12.00) on shares of SecureWorks Corp. in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.90.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Horrell Capital Management Inc. boosted its position in shares of SecureWorks Corp. by 46.4% in the second quarter. Horrell Capital Management Inc. now owns 497,000 shares of the technology company’s stock worth $4,617,000 after buying an additional 157,499 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of SecureWorks Corp. during the first quarter worth $147,000. Bank of America Corp DE boosted its position in shares of SecureWorks Corp. by 128.7% in the first quarter. Bank of America Corp DE now owns 103,914 shares of the technology company’s stock worth $987,000 after buying an additional 58,478 shares during the period. Renaissance Technologies LLC acquired a new position in shares of SecureWorks Corp. during the first quarter worth $133,000. Finally, Vanguard Group Inc. boosted its position in shares of SecureWorks Corp. by 9.6% in the first quarter. Vanguard Group Inc. now owns 783,848 shares of the technology company’s stock worth $7,447,000 after buying an additional 68,479 shares during the period. 60.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SecureWorks Corp. (SCWX) traded down 0.73% during trading on Friday, hitting $10.94. 42,851 shares of the stock traded hands. The company’s 50 day moving average is $9.95 and its 200 day moving average is $10.16. SecureWorks Corp. has a 52-week low of $8.25 and a 52-week high of $15.80. The firm’s market cap is $886.94 million.

SecureWorks Corp. Company Profile

Secureworks Corp. is a holding company. The Company provides intelligence-driven information security solutions. The Company is focused on protecting the Company’s clients from cyber-attacks. The Company’s solutions enable companies to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond to security incidents, and predict emerging threats.

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