Diversey (NASDAQ:DSEY) Updates FY 2022 Earnings Guidance

Diversey (NASDAQ:DSEY – Get Rating) issued an update on its FY 2022 earnings guidance on Friday morning. The company provided earnings per share guidance of -$0.53–$0.53 for the period, compared to the consensus earnings per share estimate of $0.30. The company issued revenue guidance of $2.80 billion-$2.80 billion, compared to the consensus revenue estimate of $2.76 billion.

Diversey Price Performance

Diversey stock opened at $7.96 on Friday. Diversey has a one year low of $3.95 and a one year high of $10.68. The business has a fifty day moving average price of $6.12 and a 200-day moving average price of $5.41. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.35 and a quick ratio of 0.94. The firm has a market capitalization of $2.58 billion, a P/E ratio of -17.69 and a beta of 2.00.

Analyst Ratings Changes

Several research firms recently issued reports on DSEY. The Goldman Sachs Group dropped their price objective on Diversey from $7.70 to $6.70 and set a neutral rating for the company in a research note on Tuesday, January 10th. Bank of America initiated coverage on Diversey in a report on Wednesday, February 22nd. They set an underperform rating and a $6.00 price objective on the stock. Morgan Stanley cut 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. Credit Suisse Group cut Diversey from an outperform rating to a neutral rating and decreased their price target for the stock from $9.00 to $8.40 in a research note on Monday, March 13th. 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 research note 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $7.97.

Institutional Investors Weigh In On Diversey

Several hedge funds have recently added to or reduced their stakes in DSEY. Alliancebernstein L.P. raised 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 worth $363,000 after purchasing an additional 18,500 shares during the last quarter. Point72 Middle East FZE purchased a new stake in Diversey during the fourth quarter valued at $28,000. Jane Street Group LLC purchased a new stake in Diversey during the fourth quarter valued at $198,000. Squarepoint Ops LLC purchased a new stake in Diversey during the fourth quarter valued at $122,000. Finally, Lombard Odier Asset Management USA Corp increased its position in Diversey by 5.2% during 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 during the last quarter. 94.64% of the stock is owned by institutional investors.

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.