Levi Strauss & Co. (NYSE:LEVI) Releases FY24 Earnings Guidance

Levi Strauss & Co. (NYSE:LEVI) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.17-1.27 for the period, compared to the consensus earnings per share estimate of $1.27. The company issued revenue guidance of $6.24-6.36 billion, compared to the consensus revenue estimate of $6.35 billion.

Wall Street Analyst Weigh In

Several research firms have recently commented on LEVI. Stifel Nicolaus upped their target price on Levi Strauss & Co. from $24.00 to $28.00 and gave the company a buy rating in a research report on Monday. OTR Global began coverage on shares of Levi Strauss & Co. in a research report on Friday, June 14th. They issued a positive rating for the company. TD Cowen upped their price target on shares of Levi Strauss & Co. from $23.00 to $26.00 and gave the company a buy rating in a research note on Tuesday, June 18th. UBS Group lifted their price objective on shares of Levi Strauss & Co. from $23.00 to $25.00 and gave the stock a buy rating in a research note on Thursday, April 4th. Finally, Telsey Advisory Group increased their target price on shares of Levi Strauss & Co. from $24.00 to $26.00 and gave the stock an outperform rating in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Levi Strauss & Co. presently has an average rating of Moderate Buy and an average target price of $21.56.

Levi Strauss & Co. Price Performance

LEVI stock traded up $0.12 during midday trading on Wednesday, reaching $23.12. 5,139,921 shares of the stock were exchanged, compared to its average volume of 2,327,792. Levi Strauss & Co. has a 52 week low of $12.41 and a 52 week high of $24.34. The company has a fifty day moving average price of $22.49 and a 200 day moving average price of $19.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.43 and a quick ratio of 0.78. The stock has a market capitalization of $9.20 billion, a PE ratio of 74.45, a P/E/G ratio of 1.31 and a beta of 1.19.

Levi Strauss & Co. (NYSE:LEVI) last posted its earnings results on Wednesday, April 3rd. The blue-jean maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. Levi Strauss & Co. had a net margin of 2.05% and a return on equity of 20.68%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. As a group, analysts expect that Levi Strauss & Co. will post 1.27 EPS for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a $0.12 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.48 annualized dividend and a yield of 2.08%. Levi Strauss & Co.’s payout ratio is 154.84%.

Insider Transactions at Levi Strauss & Co.

In other Levi Strauss & Co. news, Director David A. Friedman sold 10,422 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $20.00, for a total transaction of $208,440.00. Following the transaction, the director now directly owns 169,008 shares in the company, valued at approximately $3,380,160. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Levi Strauss & Co. news, major shareholder Bradley J. Haas sold 23,041 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $20.01, for a total value of $461,050.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David A. Friedman sold 10,422 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $20.00, for a total value of $208,440.00. Following the sale, the director now directly owns 169,008 shares of the company’s stock, valued at $3,380,160. The disclosure for this sale can be found here. Insiders sold a total of 830,719 shares of company stock valued at $18,426,020 over the last ninety days. 3.14% of the stock is currently owned by insiders.

Levi Strauss & Co. Company Profile

Levi Strauss & Co designs, markets, and sells apparels and related accessories for men, women, and children worldwide. The company offers jeans, casual and dress pants, activewears, tops, shorts, skirts, dresses, jumpsuits, shirts, sweaters, jackets, footwear, and related accessories under the Levi's, Dockers, Signature by Levi Strauss & Co, Denizen, and Beyond Yoga brands.