Zacks: Analysts Expect Secureworks Corp (NASDAQ:SCWX) to Post -$0.01 EPS

Equities analysts expect Secureworks Corp (NASDAQ:SCWX) to announce earnings of ($0.01) per share for the current fiscal quarter, according to Zacks Investment Research. 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 posted earnings of $0.02 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 150%. The business is expected to issue its next quarterly earnings results before the market opens on Friday, March 27th.

According to Zacks, analysts expect that Secureworks will report full-year earnings of ($0.03) per share for the current year, with EPS estimates ranging from ($0.04) to ($0.02). For the next fiscal year, analysts forecast that the firm will post earnings of $0.01 per share, with EPS estimates ranging from ($0.14) to $0.12. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Secureworks.

A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Secureworks from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Thursday. ValuEngine raised shares of Secureworks from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Secureworks in a report on Monday, December 9th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $12.00 target price on shares of Secureworks in a report on Wednesday, March 18th. Finally, TheStreet raised shares of Secureworks from a “d+” rating to a “c-” rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $12.40.

SCWX stock traded up $0.83 during midday trading on Monday, reaching $11.92. 217,170 shares of the company were exchanged, compared to its average volume of 146,265. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.09. Secureworks has a 1-year low of $5.29 and a 1-year high of $20.01. The stock’s 50-day simple moving average is $13.26 and its 200 day simple moving average is $13.66. The company has a market cap of $969.07 million, a price-to-earnings ratio of -24.83 and a beta of 1.27.

Several institutional investors have recently made changes to their positions in SCWX. First Trust Advisors LP acquired a new position in shares of Secureworks in the 1st quarter valued at $3,519,000. Rhumbline Advisers increased its stake in Secureworks by 6.6% in the 3rd quarter. Rhumbline Advisers now owns 16,213 shares of the technology company’s stock valued at $210,000 after buying an additional 1,006 shares during the period. California Public Employees Retirement System increased its stake in Secureworks by 5.8% in the 3rd quarter. California Public Employees Retirement System now owns 36,500 shares of the technology company’s stock valued at $472,000 after buying an additional 2,000 shares during the period. State Street Corp increased its stake in Secureworks by 0.9% in the 3rd quarter. State Street Corp now owns 150,987 shares of the technology company’s stock valued at $1,952,000 after buying an additional 1,282 shares during the period. Finally, Millennium Management LLC increased its stake in 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 buying an additional 123,769 shares during the period. 9.47% of the stock is currently owned by institutional investors and hedge funds.

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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