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

Levi Strauss & Co. (NYSE:LEVI) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.17-1.27 for the period, compared to the consensus EPS estimate of $1.25. The company issued revenue guidance of $6.24 billion, compared to the consensus revenue estimate of $6.32 billion. Levi Strauss & Co. also updated its FY 2024 guidance to 1.170-1.270 EPS.

Levi Strauss & Co. Price Performance

NYSE:LEVI opened at $21.05 on Thursday. Levi Strauss & Co. has a one year low of $12.41 and a one year high of $24.34. The stock has a market cap of $8.37 billion, a PE ratio of 60.14, a P/E/G ratio of 1.19 and a beta of 1.14. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.77 and a current ratio of 1.42. The stock has a 50 day moving average price of $19.11 and a 200 day moving average price of $20.34.

Levi Strauss & Co. (NYSE:LEVI) last issued its earnings results on Wednesday, October 2nd. The blue-jean maker reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. Levi Strauss & Co. had a return on equity of 23.21% and a net margin of 2.34%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the company earned $0.28 EPS. Equities research analysts expect that Levi Strauss & Co. will post 1.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Telsey Advisory Group reiterated an outperform rating and issued a $26.00 target price on shares of Levi Strauss & Co. in a report on Friday, September 27th. JPMorgan Chase & Co. reduced their price target on shares of Levi Strauss & Co. from $21.00 to $20.00 and set a neutral rating on the stock in a research report on Thursday, June 27th. Bank of America increased their price objective on Levi Strauss & Co. from $19.00 to $22.00 and gave the stock a neutral rating in a research report on Thursday, June 27th. TD Cowen reduced their target price on Levi Strauss & Co. from $26.00 to $25.00 and set a buy rating on the stock in a research report on Friday, September 27th. Finally, OTR Global assumed coverage on Levi Strauss & Co. in a report on Friday, June 14th. They set a positive rating for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $23.25.

Insider Activity

In other news, Director David A. Friedman sold 4,166 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.15, for a total value of $79,778.90. Following the completion of the transaction, the director now owns 154,178 shares of the company’s stock, valued at $2,952,508.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director David A. Friedman sold 4,166 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.15, for a total value of $79,778.90. Following the completion of the sale, the director now directly owns 154,178 shares of the company’s stock, valued at approximately $2,952,508.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Friedman sold 25,002 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $20.00, for a total value of $500,040.00. Following the sale, the director now directly owns 229,176 shares of the company’s stock, valued at $4,583,520. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,334 shares of company stock valued at $655,765. 3.14% of the stock is currently owned by corporate insiders.

About Levi Strauss & Co.

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.