Diversey (NASDAQ:DSEY) Posts Earnings Results, Misses Expectations 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 analysts’ consensus estimates of $0.10 by ($0.01), Briefing.com reports. Diversey had a negative net margin of 4.46% and a positive return on equity of 19.16%. The business had revenue of $715.30 million during the quarter, compared to analyst estimates of $710.09 million. During the same quarter last 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 %

DSEY traded down $0.12 during trading on Friday, reaching $6.68. 945,999 shares of the stock were exchanged, compared to its average volume of 1,049,997. 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 stock’s 50 day moving average price is $7.82 and its two-hundred day moving average price is $8.52. Diversey has a twelve month low of $6.09 and a twelve month high of $18.17. The stock has a market cap of $2.17 billion, a P/E ratio of -18.05 and a beta of 1.68.

Hedge Funds Weigh In On Diversey

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position in Diversey by 280.2% during the first quarter. Bank of America Corp DE now owns 217,501 shares of the company’s stock worth $1,647,000 after purchasing an additional 160,292 shares during the period. Jane Street Group LLC bought a new position in Diversey during the first quarter worth $2,807,000. Ensign Peak Advisors Inc boosted its position in Diversey by 491.4% during the first quarter. Ensign Peak Advisors Inc now owns 2,544,905 shares of the company’s stock worth $19,265,000 after purchasing an additional 2,114,584 shares during the period. Goldman Sachs Group Inc. boosted its position in Diversey by 722.7% during the first quarter. Goldman Sachs Group Inc. now owns 132,254 shares of the company’s stock worth $1,001,000 after purchasing an additional 116,178 shares during the period. Finally, State Street Corp boosted its position in 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 purchasing an additional 57,274 shares during the period. 97.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DSEY shares. Citigroup lowered their price objective on shares of Diversey from $12.00 to $10.00 in a report on Friday, May 13th. Credit Suisse Group started coverage on shares of Diversey in a report on Friday, May 20th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Jefferies Financial Group downgraded shares of Diversey from a “buy” rating to a “hold” rating and lowered their price objective for the company from $12.00 to $10.00 in a report on Thursday, June 16th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Diversey presently has a consensus rating of “Hold” and a consensus target price 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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