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

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

Diversey Price Performance

Shares of DSEY 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. The stock has a 50 day moving average of $6.12 and a 200 day moving average of $5.41. Diversey has a 12 month low of $3.95 and a 12 month high of $10.68.

Institutional Trading of Diversey

A number of institutional investors and hedge funds have recently modified their holdings of DSEY. Envestnet Asset Management Inc. increased its position in shares of Diversey by 32.9% during the first quarter. Envestnet Asset Management Inc. now owns 46,631 shares of the company’s stock valued at $353,000 after acquiring an additional 11,536 shares during the last quarter. Citigroup Inc. increased its position in shares of Diversey by 110.7% during the first quarter. Citigroup Inc. now owns 8,929 shares of the company’s stock valued at $67,000 after acquiring an additional 4,691 shares during the last quarter. Bank of Montreal Can increased its position in shares of Diversey by 228.8% during the first quarter. Bank of Montreal Can now owns 171,405 shares of the company’s stock valued at $1,364,000 after acquiring an additional 119,267 shares during the last quarter. BlackRock Inc. increased its position in shares of Diversey by 7.1% during the first quarter. BlackRock Inc. now owns 12,756,337 shares of the company’s stock valued at $96,564,000 after acquiring an additional 841,173 shares during the last quarter. Finally, Ergoteles LLC purchased a new stake in shares of Diversey during the first quarter valued at approximately $868,000. 94.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Credit Suisse Group downgraded Diversey from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $9.00 to $8.40 in a research note on Monday, March 13th. Bank of America assumed coverage on Diversey in a research note on Wednesday, February 22nd. They set an “underperform” rating and a $6.00 price target on the stock. Royal Bank of Canada upped their price target on Diversey from $6.00 to $8.40 and gave the stock a “sector perform” rating in a research note on Thursday, March 9th. Mizuho upped their price target on Diversey from $6.00 to $8.40 and gave the stock a “neutral” rating in a research note on Monday, March 13th. Finally, Morgan Stanley downgraded Diversey from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $8.00 to $8.40 in a research note on Thursday, March 9th. 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.com, Diversey has an average rating of “Hold” and a consensus target price of $7.97.

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.