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

Diversey (NASDAQ:DSEY – Get Rating) announced its earnings results on Friday. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01), Briefing.com reports. Diversey had a negative net margin of 5.32% and a positive return on equity of 15.06%. The company had revenue of $701.60 million for the quarter, compared to analysts’ expectations of $695.41 million. During the same period in the prior year, the company earned ($0.11) earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Diversey updated its FY 2022 guidance to -$0.53–$0.53 EPS.

Diversey Stock Performance

Shares of DSEY stock opened at $7.96 on Friday. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.35 and a quick ratio of 0.94. Diversey has a fifty-two week low of $3.95 and a fifty-two week high of $10.68. The stock’s 50-day moving average is $6.12 and its two-hundred day moving average is $5.41. The firm has a market cap of $2.58 billion, a P/E ratio of -17.69 and a beta of 2.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp increased its position in Diversey by 1.3% in the 1st quarter. Northern Trust Corp now owns 216,424 shares of the company’s stock worth $1,638,000 after purchasing an additional 2,738 shares during the last quarter. Citigroup Inc. increased its position in Diversey by 110.7% in 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. Point72 Middle East FZE acquired a new position in Diversey in the 4th quarter worth about $28,000. UBS Group AG increased its position in Diversey by 38.4% in the 2nd quarter. UBS Group AG now owns 26,162 shares of the company’s stock worth $173,000 after purchasing an additional 7,262 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Diversey by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 576,100 shares of the company’s stock worth $2,454,000 after purchasing an additional 8,326 shares during the last quarter. 94.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DSEY shares. 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 target price on Diversey from $5.80 to $8.40 and gave the company a “market perform” rating in a report on Thursday, March 9th. Bank of America started coverage on Diversey in a report on Wednesday, February 22nd. They set an “underperform” rating and a $6.00 target price for the company. Credit Suisse Group downgraded Diversey from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $9.00 to $8.40 in a report on Monday, March 13th. Finally, Morgan Stanley downgraded Diversey from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $8.00 to $8.40 in a report on Thursday, March 9th. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.97.

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.