Diversey (NASDAQ:DSEY) Posts Earnings Results, Misses Estimates By $0.01 EPS

Diversey (NASDAQ:DSEYGet Rating) posted its quarterly earnings data on Thursday. 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. Diversey had a negative net margin of 5.57% and a positive return on equity of 16.05%. The company had revenue of $715.30 million during the quarter, compared to the consensus estimate of $710.09 million. During the same period in the previous year, the business earned $0.16 earnings per share. Diversey’s revenue for the quarter was up 10.0% on a year-over-year basis. Diversey updated its Q3 2022 guidance to EPS.

Diversey Stock Down 1.8 %

NASDAQ:DSEY traded down $0.12 during trading hours on Friday, reaching $6.68. The company’s stock had a trading volume of 946,049 shares, compared to its average volume of 636,674. The stock has a 50 day moving average price of $7.75 and a two-hundred day moving average price of $8.48. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.84 and a current ratio of 1.24. The company has a market capitalization of $2.17 billion, a P/E ratio of -13.92 and a beta of 1.68. Diversey has a 12 month low of $6.09 and a 12 month high of $18.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Diversey by 7.1% in the 1st quarter. BlackRock Inc. now owns 12,756,337 shares of the company’s stock worth $96,564,000 after purchasing an additional 841,173 shares in the last quarter. Sunriver Management LLC grew its stake in shares of Diversey by 17.5% during the first quarter. Sunriver Management LLC now owns 4,224,088 shares of the company’s stock worth $31,976,000 after acquiring an additional 628,173 shares during the last quarter. Robeco Schweiz AG increased its holdings in shares of Diversey by 55.4% during the first quarter. Robeco Schweiz AG now owns 2,667,401 shares of the company’s stock valued at $20,192,000 after acquiring an additional 951,084 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of Diversey by 491.4% in the 1st quarter. Ensign Peak Advisors Inc now owns 2,544,905 shares of the company’s stock valued at $19,265,000 after purchasing an additional 2,114,584 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Diversey by 7.6% during the first quarter. State Street Corp now owns 807,606 shares of the company’s stock worth $6,114,000 after buying an additional 57,274 shares during the period. Hedge funds and other institutional investors own 97.69% of the company’s stock.

Analyst Upgrades and Downgrades

DSEY has been the subject of several analyst reports. Jefferies Financial Group lowered shares of Diversey from a “buy” rating to a “hold” rating and lowered their target price for the stock from $12.00 to $10.00 in a report on Thursday, June 16th. Citigroup reduced their price target on shares of Diversey from $12.00 to $10.00 in a research note on Friday, May 13th. Finally, Credit Suisse Group assumed coverage on shares of Diversey in a research report on Friday, May 20th. They issued a “buy” rating and a $12.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.33.

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.

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Earnings History for Diversey (NASDAQ:DSEY)

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