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

Diversey (NASDAQ:DSEY – Get Rating) released its earnings results on Friday. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $695.41 million. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Diversey’s revenue for the quarter was up 4.3% compared to the same quarter last year. Diversey updated its FY 2022 guidance to -$0.53–$0.53 EPS.

Diversey Price Performance

Shares of DSEY stock opened at $7.96 on Friday. The firm has a fifty day simple moving average of $6.12 and a 200-day simple moving average of $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. Diversey has a twelve month low of $3.95 and a twelve month high of $10.68.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Diversey from $6.00 to $8.40 and gave the company a “sector perform” rating in a report on Thursday, March 9th. Mizuho boosted their price objective on shares of Diversey from $6.00 to $8.40 and gave the stock a “neutral” rating in a research note on Monday, March 13th. Credit Suisse Group downgraded shares of Diversey from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $9.00 to $8.40 in a research note on Monday, March 13th. The Goldman Sachs Group decreased their price objective on shares of Diversey from $7.70 to $6.70 and set a “neutral” rating for the company in a research note on Tuesday, January 10th. Finally, BMO Capital Markets boosted their price objective on shares of Diversey from $5.80 to $8.40 and gave the stock a “market perform” rating in a research note on Thursday, March 9th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average 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.