Diversey (NASDAQ:DSEY) Announces Quarterly 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 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 analyst estimates of $695.41 million. Diversey had a positive return on equity of 15.06% and a negative net margin of 5.32%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) earnings per share. Diversey updated its FY 2022 guidance to -$0.53–$0.53 EPS.

Diversey Trading Down 1.7 %

Shares of NASDAQ: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. Diversey has a 52 week low of $3.95 and a 52 week high of $10.68. The business has a fifty day simple moving average of $6.12 and a 200-day simple moving average of $5.41.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Diversey

A number of hedge funds and other institutional investors have recently made changes to their positions in DSEY. Envestnet Asset Management Inc. grew its position in shares of Diversey by 32.9% in the first quarter. Envestnet Asset Management Inc. now owns 46,631 shares of the company’s stock valued at $353,000 after purchasing an additional 11,536 shares during the period. Citigroup Inc. grew 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. Bank of Montreal Can grew its position in 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 period. BlackRock Inc. grew its position in 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 period. Finally, Ergoteles LLC purchased a new stake in Diversey during the first quarter valued at about $868,000. Hedge funds and other 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.