Diversey (NASDAQ:DSEY) Releases Quarterly Earnings Results, Misses Expectations 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 the consensus estimate of $0.10 by ($0.01), Briefing.com reports. The firm had revenue of $701.60 million for the quarter, compared to analysts’ expectations of $695.41 million. Diversey had a positive return on equity of 15.06% and a negative net margin of 5.32%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned ($0.11) earnings per share. Diversey updated its FY 2022 guidance to -$0.53–$0.53 EPS.

Diversey Price Performance

Shares of NASDAQ DSEY opened at $7.96 on Friday. The business has a fifty day moving average price of $6.12 and a 200 day moving average price of $5.41. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.94 and a current ratio of 1.35. Diversey has a 1-year low of $3.95 and a 1-year high of $10.68.

Institutional Investors Weigh In On Diversey

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Middle East FZE acquired a new position in shares of Diversey in the fourth quarter valued at about $28,000. Price T Rowe Associates Inc. MD acquired a new stake in Diversey during the third quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Diversey during the second quarter worth about $62,000. Citigroup Inc. grew its holdings in Diversey by 110.7% during the first quarter. Citigroup Inc. now owns 8,929 shares of the company’s stock worth $67,000 after acquiring an additional 4,691 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Diversey during the second quarter worth about $70,000. 94.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DSEY. Royal Bank of Canada upped their price objective on Diversey from $6.00 to $8.40 and gave the stock a “sector perform” rating in a report on Thursday, March 9th. BMO Capital Markets upped their price objective on Diversey from $5.80 to $8.40 and gave the stock a “market perform” rating in a report on Thursday, March 9th. Bank of America began coverage on Diversey in a report on Wednesday, February 22nd. They set an “underperform” rating and a $6.00 price objective on the stock. Morgan Stanley cut Diversey from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $8.00 to $8.40 in a report on Thursday, March 9th. Finally, Mizuho boosted their target price on Diversey from $6.00 to $8.40 and gave the company a “neutral” rating in a research report on Monday, March 13th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.97.

About Diversey

(Get Rating)

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.