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

Diversey (NASDAQ:DSEY – Get Rating) posted its quarterly earnings data 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. The company had revenue of $701.60 million during 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 business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous 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. Diversey has a fifty-two week low of $3.95 and a fifty-two week high of $10.68. The firm’s 50-day simple moving average is $6.12 and its 200 day simple moving average is $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. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -17.69 and a beta of 2.00.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Morgan Stanley downgraded Diversey from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $8.00 to $8.40 in a report on Thursday, March 9th. Credit Suisse Group downgraded Diversey from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $9.00 to $8.40 in a report on Monday, March 13th. Mizuho increased their price target on Diversey from $6.00 to $8.40 and gave the stock a “neutral” rating in a report on Monday, March 13th. Bank of America initiated coverage on Diversey in a report on Wednesday, February 22nd. They set an “underperform” rating and a $6.00 price target for the company. Finally, The Goldman Sachs Group decreased their price target on Diversey from $7.70 to $6.70 and set a “neutral” rating for the company in a report on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Diversey presently has an average rating of “Hold” and a consensus price target of $7.97.

Hedge Funds Weigh In On Diversey

Several hedge funds have recently modified their holdings of DSEY. Point72 Middle East FZE bought a new position in shares of Diversey during the 4th quarter worth approximately $28,000. Price T Rowe Associates Inc. MD bought a new position in shares of Diversey during the 3rd quarter worth approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Diversey during the 2nd quarter worth approximately $62,000. Citigroup Inc. lifted its position in shares of Diversey by 110.7% during the 1st quarter. Citigroup Inc. now owns 8,929 shares of the company’s stock worth $67,000 after buying an additional 4,691 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Diversey during the 2nd quarter worth approximately $70,000. Institutional investors own 94.64% of the company’s stock.

Diversey Company Profile

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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.