Levi Strauss & Co. (NYSE:LEVI) Updates FY 2024 Earnings Guidance

Levi Strauss & Co. (NYSE:LEVI) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.170-1.270 for the period, compared to the consensus estimate of 1.270. The company issued revenue guidance of $6.2 billion-$6.4 billion, compared to the consensus revenue estimate of $6.4 billion. Levi Strauss & Co. also updated its FY24 guidance to $1.17-1.27 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LEVI shares. Morgan Stanley raised their price target on shares of Levi Strauss & Co. from $17.00 to $20.00 and gave the stock an equal weight rating in a research report on Friday, April 5th. Stifel Nicolaus raised their price target on Levi Strauss & Co. from $24.00 to $28.00 and gave the stock a buy rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on shares of Levi Strauss & Co. from $19.00 to $21.00 and gave the company a neutral rating in a report on Monday, April 8th. OTR Global assumed coverage on shares of Levi Strauss & Co. in a research report on Friday, June 14th. They set a positive rating for the company. Finally, Wells Fargo & Company raised their target price on Levi Strauss & Co. from $17.00 to $20.00 and gave the company an equal weight rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $21.56.

Levi Strauss & Co. Stock Performance

LEVI stock traded up $0.15 during trading on Wednesday, reaching $23.15. The company had a trading volume of 6,677,931 shares, compared to its average volume of 2,339,376. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 1.43. Levi Strauss & Co. has a twelve month low of $12.41 and a twelve month high of $24.34. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 74.45, a price-to-earnings-growth ratio of 1.31 and a beta of 1.19. The firm has a 50-day simple moving average of $22.49 and a 200-day simple moving average of $19.25.

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

Levi Strauss & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.07%. The ex-dividend date was Wednesday, May 8th. Levi Strauss & Co.’s dividend payout ratio is currently 154.84%.

Insider Buying and Selling at Levi Strauss & Co.

In other news, EVP Harmit J. Singh sold 346,555 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $22.21, for a total value of $7,696,986.55. Following the transaction, the executive vice president now owns 525,337 shares of the company’s stock, valued at $11,667,734.77. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Harmit J. Singh sold 346,555 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $22.21, for a total transaction of $7,696,986.55. Following the transaction, the executive vice president now directly owns 525,337 shares in the company, valued at $11,667,734.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Friedman sold 16,666 shares of Levi Strauss & Co. stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $23.94, for a total value of $398,984.04. Following the completion of the transaction, the director now owns 166,676 shares in the company, valued at approximately $3,990,223.44. The disclosure for this sale can be found here. Insiders have sold 830,719 shares of company stock valued at $18,426,020 in the last quarter. Corporate insiders own 3.14% of the company’s stock.

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.