Zacks: Brokerages Anticipate SecureWorks Corp. (SCWX) to Announce -$0.09 EPS
Analysts forecast that SecureWorks Corp. (NASDAQ:SCWX) will post ($0.09) earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for SecureWorks Corp.’s earnings, with estimates ranging from ($0.09) to ($0.08). SecureWorks Corp. posted earnings per share of ($0.07) during the same quarter last year, which suggests a negative year-over-year growth rate of 28.6%. The business is expected to report its next earnings results before the market opens on Wednesday, September 6th.
On average, analysts expect that SecureWorks Corp. will report full year earnings of ($0.32) per share for the current financial year, with EPS estimates ranging from ($0.34) to ($0.31). For the next year, analysts anticipate that the business will post earnings of ($0.14) per share, with EPS estimates ranging from ($0.22) to ($0.09). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover SecureWorks Corp..
SecureWorks Corp. (NASDAQ:SCWX) last posted its earnings results on Tuesday, June 6th. The technology company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.02. SecureWorks Corp. had a negative net margin of 9.21% and a negative return on equity of 3.25%. The business had revenue of $113.70 million during the quarter, compared to analysts’ expectations of $110.70 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. SecureWorks Corp.’s revenue for the quarter was up 13.9% compared to the same quarter last year.
A number of research analysts have weighed in on SCWX shares. Zacks Investment Research lowered SecureWorks Corp. from a “hold” rating to a “sell” rating in a research note on Friday. Barclays PLC reissued a “hold” rating and set a $11.00 price target on shares of SecureWorks Corp. in a research note on Wednesday, June 7th. Finally, UBS AG reissued a “neutral” rating and set a $11.00 price target (down previously from $12.00) on shares of SecureWorks Corp. in a research note on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $13.90.
Institutional investors and hedge funds have recently modified their holdings of the stock. Teachers Advisors LLC raised its position in shares of SecureWorks Corp. by 32.2% in the 2nd quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock worth $120,000 after buying an additional 3,135 shares during the period. JPMorgan Chase & Co. raised its position in shares of SecureWorks Corp. by 8.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock worth $129,000 after buying an additional 1,022 shares during the period. Renaissance Technologies LLC purchased a new position in shares of SecureWorks Corp. in the 1st quarter worth $133,000. California State Teachers Retirement System raised its position in shares of SecureWorks Corp. by 15.3% in the 2nd quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock worth $133,000 after buying an additional 1,900 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in shares of SecureWorks Corp. in the 1st quarter worth $147,000. 57.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of SecureWorks Corp. (SCWX) opened at 10.84 on Monday. The stock’s market cap is $878.83 million. SecureWorks Corp. has a 52-week low of $8.25 and a 52-week high of $15.80. The firm has a 50-day moving average price of $10.63 and a 200-day moving average price of $10.16.
About SecureWorks Corp.
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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