Diversey (NASDAQ:DSEY) Posts Earnings Results, Misses Estimates By $0.01 EPS

Diversey (NASDAQ:DSEY – Get Rating) issued its quarterly earnings data on Friday. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01), Briefing.com reports. The business had revenue of $701.60 million for the quarter, compared to analyst estimates of $695.41 million. Diversey had a negative net margin of 5.32% and a positive return on equity of 15.06%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Diversey updated its FY 2022 guidance to -$0.53–$0.53 EPS.

Diversey Stock Performance

Shares of DSEY stock opened at $7.96 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 2.96. Diversey has a 52 week low of $3.95 and a 52 week high of $10.68. The firm’s 50-day simple moving average is $6.12 and its two-hundred day simple moving average is $5.41.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DSEY shares. BMO Capital Markets lifted their price objective on shares of Diversey from $5.80 to $8.40 and gave the company a “market perform” rating in a report on Thursday, March 9th. Morgan Stanley lowered shares of Diversey from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $8.00 to $8.40 in a research report on Thursday, March 9th. Bank of America initiated coverage on shares of Diversey in a research report on Wednesday, February 22nd. They set an “underperform” rating and a $6.00 price target on the stock. Mizuho raised their price target on shares of Diversey from $6.00 to $8.40 and gave the company a “neutral” rating in a research report on Monday, March 13th. Finally, Credit Suisse Group lowered shares of Diversey from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $8.40 in a research report on Monday, March 13th. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.97.

Institutional Trading of Diversey

Several hedge funds have recently added to or reduced their stakes in DSEY. Point72 Middle East FZE bought a new stake in Diversey in the fourth quarter worth about $28,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Diversey in the third quarter valued at approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Diversey in the second quarter valued at approximately $62,000. Citigroup Inc. raised its position in shares of Diversey by 110.7% in the first quarter. Citigroup Inc. now owns 8,929 shares of the company’s stock valued at $67,000 after purchasing an additional 4,691 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Diversey in the second quarter valued at approximately $70,000. Institutional investors own 94.64% of the company’s stock.

About Diversey

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Diversey Holdings, Ltd., through its subsidiaries, provides infection prevention and cleaning solutions worldwide. It operates in two segments, Institutional, and Food & Beverage. The Institutional segment offers products, solutions, equipment, and machines, including infection prevention and personal care products, floor and building care chemicals, kitchen and mechanical ware wash chemicals and machines, dosing and dispensing equipment, and floor care machines, as well as engineering, consulting, and training services related to productivity management, water and energy management, and risk management.