Diversey (NASDAQ:DSEY) Issues Earnings Results

Diversey (NASDAQ:DSEY – Get Rating) announced 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 firm had revenue of $701.60 million during the quarter, compared to analysts’ expectations of $695.41 million. Diversey had a negative net margin of 5.32% and a positive return on equity of 15.06%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) EPS. Diversey updated its FY 2022 guidance to -$0.53–$0.53 EPS.

Diversey Trading Down 1.7 %

Shares of NASDAQ DSEY traded down $0.14 during trading on Friday, hitting $7.96. 9,105,861 shares of the company were exchanged, compared to its average volume of 6,315,135. The company has a fifty day moving average price of $6.12 and a 200-day moving average price of $5.41. 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 12-month low of $3.95 and a 12-month high of $10.68.

Institutional Trading of Diversey

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Middle East FZE acquired a new stake in shares of Diversey during the 4th quarter worth about $28,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Diversey during the 3rd quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Diversey during the 2nd quarter worth about $62,000. Citigroup Inc. increased 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 purchasing an additional 4,691 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Diversey during the 2nd quarter worth about $70,000. 94.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DSEY. The Goldman Sachs Group decreased their price objective on Diversey from $7.70 to $6.70 and set a “neutral” rating on the stock in a report on Tuesday, January 10th. BMO Capital Markets raised their price objective on Diversey from $5.80 to $8.40 and gave the company a “market perform” rating in a report on Thursday, March 9th. Morgan Stanley lowered Diversey from an “overweight” rating to an “equal weight” rating and raised their price objective for the company 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 price objective on the stock. Finally, Royal Bank of Canada lifted their price target on Diversey from $6.00 to $8.40 and gave the stock a “sector perform” rating in a report on Thursday, March 9th. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company 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.