$115.57 Million in Sales Expected for SecureWorks Corp. (SCWX) This Quarter
Brokerages expect SecureWorks Corp. (NASDAQ:SCWX) to report sales of $115.57 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for SecureWorks Corp.’s earnings, with estimates ranging from $115.30 million to $115.80 million. SecureWorks Corp. posted sales of $107.11 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.9%. The business is expected to issue its next earnings results on Wednesday, December 6th.
According to Zacks, analysts expect that SecureWorks Corp. will report full year sales of $115.57 million for the current year, with estimates ranging from $464.00 million to $464.91 million. For the next financial year, analysts expect that the company will post sales of $509.87 million per share, with estimates ranging from $500.00 million to $527.88 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover SecureWorks Corp..
SecureWorks Corp. (NASDAQ:SCWX) last posted its quarterly earnings results on Wednesday, September 6th. The technology company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The firm had revenue of $116.27 million for the quarter, compared to analyst estimates of $113.75 million. SecureWorks Corp. had a negative return on equity of 3.32% and a negative net margin of 8.97%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.07) EPS.
A number of research firms have recently weighed in on SCWX. KeyCorp restated a “buy” rating and issued a $15.00 target price on shares of SecureWorks Corp. in a report on Friday, October 6th. J P Morgan Chase & Co restated a “buy” rating on shares of SecureWorks Corp. in a report on Thursday. Royal Bank Of Canada restated an “outperform” rating and issued a $15.00 target price (up previously from $13.00) on shares of SecureWorks Corp. in a report on Tuesday, October 3rd. Zacks Investment Research lowered SecureWorks Corp. from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $11.00 target price (up previously from $10.00) on shares of SecureWorks Corp. in a report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $13.70.
COPYRIGHT VIOLATION WARNING: “$115.57 Million in Sales Expected for SecureWorks Corp. (SCWX) This Quarter” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.americanbankingnews.com/2017/10/13/115-57-million-in-sales-expected-for-secureworks-corp-scwx-this-quarter.html.
Institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC lifted its holdings in SecureWorks Corp. by 32.2% during the second quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock worth $120,000 after acquiring an additional 3,135 shares during the period. JPMorgan Chase & Co. lifted its holdings in SecureWorks Corp. by 8.0% during the second quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock worth $129,000 after acquiring an additional 1,022 shares during the period. Renaissance Technologies LLC bought a new stake in SecureWorks Corp. during the first quarter worth $133,000. California State Teachers Retirement System lifted its holdings in SecureWorks Corp. by 15.3% during the second quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock worth $133,000 after acquiring an additional 1,900 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in SecureWorks Corp. during the first quarter worth $147,000. Institutional investors and hedge funds own 7.66% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SecureWorks Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SecureWorks Corp. and related companies with MarketBeat.com's FREE daily email newsletter.