$136.26 Million in Sales Expected for Secureworks Corp (NASDAQ:SCWX) This Quarter

Brokerages expect that Secureworks Corp (NASDAQ:SCWX) will post $136.26 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Secureworks’ earnings, with estimates ranging from $136.01 million to $136.50 million. Secureworks posted sales of $133.06 million in the same quarter last year, which suggests a positive year over year growth rate of 2.4%. The company is expected to issue its next earnings report before the market opens on Thursday, December 5th.

According to Zacks, analysts expect that Secureworks will report full-year sales of $543.48 million for the current financial year, with estimates ranging from $542.44 million to $544.00 million. For the next financial year, analysts expect that the company will post sales of $577.31 million, with estimates ranging from $570.00 million to $586.00 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Secureworks.

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

SCWX has been the subject of several recent analyst reports. BidaskClub downgraded shares of Secureworks from a “sell” rating to a “strong sell” rating in a report on Thursday, November 14th. ValuEngine lowered shares of Secureworks from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. TheStreet cut shares of Secureworks from a “c-” rating to a “d+” rating in a report on Wednesday, August 7th. Goldman Sachs Group assumed coverage on Secureworks in a research report on Tuesday, November 12th. They issued a “sell” rating and a $12.00 price target on the stock. Finally, Zacks Investment Research lowered Secureworks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Secureworks presently has an average rating of “Hold” and a consensus target price of $14.64.

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC boosted its holdings 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 purchasing an additional 123,769 shares during the period. State Street Corp raised its position in shares of Secureworks by 0.9% during the third 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 last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Secureworks by 12.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 94,985 shares of the technology company’s stock valued at $1,228,000 after buying an additional 10,593 shares during the period. California Public Employees Retirement System lifted its stake in shares of Secureworks by 5.8% in the third 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. Finally, Rhumbline Advisers grew its position in Secureworks by 6.6% during the third quarter. Rhumbline Advisers now owns 16,213 shares of the technology company’s stock worth $210,000 after buying an additional 1,006 shares in the last quarter. 8.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of Secureworks stock traded up $3.31 on Monday, reaching $14.55. The stock had a trading volume of 717,917 shares, compared to its average volume of 216,163. The business’s 50-day moving average price is $11.87 and its two-hundred day moving average price is $12.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.07. Secureworks has a fifty-two week low of $10.37 and a fifty-two week high of $24.91. The stock has a market cap of $1.04 billion, a P/E ratio of -90.94 and a beta of 1.06.

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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