Levi Strauss & Co. (NYSE:LEVI) Posts Earnings Results, Beats Expectations By $0.02 EPS

Levi Strauss & Co. (NYSE:LEVI) released its quarterly earnings data on Wednesday. The blue-jean maker reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02, Briefing.com reports. Levi Strauss & Co. had a return on equity of 23.21% and a net margin of 2.34%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the company posted $0.28 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. Levi Strauss & Co. updated its FY24 guidance to $1.17-1.27 EPS and its FY 2024 guidance to 1.170-1.270 EPS.

Levi Strauss & Co. Trading Down 7.6 %

Levi Strauss & Co. stock opened at $19.45 on Friday. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 55.57, a P/E/G ratio of 1.19 and a beta of 1.14. The firm has a 50-day moving average of $19.15 and a 200-day moving average of $20.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.42 and a quick ratio of 0.77. Levi Strauss & Co. has a one year low of $12.41 and a one year high of $24.34.

Levi Strauss & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Tuesday, October 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.52 annualized dividend and a yield of 2.67%. Levi Strauss & Co.’s dividend payout ratio (DPR) is presently 148.57%.

Insider Activity at Levi Strauss & Co.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Cowen cut their price target on shares of Levi Strauss & Co. from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday. Telsey Advisory Group reiterated an “outperform” rating and set a $26.00 target price on shares of Levi Strauss & Co. in a report on Thursday. Bank of America increased their price target on Levi Strauss & Co. from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, June 27th. Stifel Nicolaus cut their price objective on Levi Strauss & Co. from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. increased their target price on Levi Strauss & Co. from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.75.

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.