Zacks: Analysts Expect Secureworks Corp (NASDAQ:SCWX) Will Post Quarterly Sales of $136.26 Million

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Wall Street analysts predict that Secureworks Corp (NASDAQ:SCWX) will announce $136.26 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Secureworks’ earnings, with the lowest sales estimate coming in at $136.01 million and the highest estimate coming in at $136.50 million. Secureworks reported sales of $133.06 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.4%. The company is expected to announce its next earnings results 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 anticipate that the firm will post sales of $577.31 million, with estimates ranging from $570.00 million to $586.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Secureworks.

Secureworks (NASDAQ:SCWX) last released its earnings results on Thursday, September 5th. The technology company reported ($0.01) earnings per share for the quarter, topping 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 firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $133.02 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis.

Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Secureworks from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, September 12th. BidaskClub downgraded shares of Secureworks from a “hold” rating to a “sell” rating in a report on Friday, October 11th. ValuEngine downgraded shares of Secureworks from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Finally, TheStreet downgraded shares of Secureworks from a “c-” rating to a “d+” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $15.08.

NASDAQ SCWX traded up $0.38 on Thursday, hitting $13.27. 154,280 shares of the company’s stock were exchanged, compared to its average volume of 225,544. The stock has a 50-day moving average of $12.83 and a 200-day moving average of $14.15. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. Secureworks has a 52 week low of $10.37 and a 52 week high of $24.91. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -82.94 and a beta of 1.13.

Several large investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL increased its holdings in shares of Secureworks by 3.5% during the third quarter. Virginia Retirement Systems ET AL now owns 41,700 shares of the technology company’s stock worth $539,000 after buying an additional 1,400 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Secureworks by 3.3% during the second quarter. Northern Trust Corp now owns 106,576 shares of the technology company’s stock worth $1,416,000 after buying an additional 3,441 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Secureworks by 0.7% during the second quarter. Vanguard Group Inc. now owns 651,979 shares of the technology company’s stock worth $8,665,000 after buying an additional 4,384 shares in the last quarter. US Bancorp DE increased its holdings in Secureworks by 14.6% in the second quarter. US Bancorp DE now owns 47,033 shares of the technology company’s stock valued at $625,000 after purchasing an additional 5,986 shares during the period. Finally, Strs Ohio increased its holdings in Secureworks by 40.3% in the second quarter. Strs Ohio now owns 42,500 shares of the technology company’s stock valued at $564,000 after purchasing an additional 12,200 shares during the period. Institutional investors own 9.36% of the company’s stock.

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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