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

Diversey (NASDAQ:DSEY – Get Rating) issued its earnings results on Friday. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01), Briefing.com reports. The firm had revenue of $701.60 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) earnings per share. Diversey updated its FY 2022 guidance to -$0.53–$0.53 EPS.

Diversey Trading Down 1.7 %

NASDAQ:DSEY opened at $7.96 on Friday. The company has a market cap of $2.58 billion, a P/E ratio of -17.69 and a beta of 2.00. The stock’s fifty day moving average price is $6.12 and its two-hundred day moving average price is $5.41. Diversey has a 1 year low of $3.95 and a 1 year high of $10.68. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.35 and a quick ratio of 0.94.

Institutional Investors Weigh In On Diversey

Several institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its position in shares of Diversey by 27.8% during the fourth quarter. Alliancebernstein L.P. now owns 85,100 shares of the company’s stock worth $363,000 after acquiring an additional 18,500 shares in the last quarter. Point72 Middle East FZE purchased a new stake in shares of Diversey in the fourth quarter worth $28,000. Jane Street Group LLC purchased a new stake in shares of Diversey in the fourth quarter worth $198,000. Squarepoint Ops LLC purchased a new stake in shares of Diversey in the fourth quarter worth $122,000. Finally, Lombard Odier Asset Management USA Corp raised its position in shares of Diversey by 5.2% in the fourth quarter. Lombard Odier Asset Management USA Corp now owns 795,000 shares of the company’s stock worth $3,387,000 after buying an additional 39,000 shares in the last quarter. Hedge funds and other institutional investors own 94.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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