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

Levi Strauss & Co. (NYSE:LEVI) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.17-1.27 for the period, compared to the consensus earnings per share estimate of $1.25. 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.

Analysts Set New Price Targets

Several research firms recently commented on LEVI. Bank of America increased their target price on shares of Levi Strauss & Co. from $19.00 to $22.00 and gave the company a neutral rating in a research note on Thursday, June 27th. OTR Global started coverage on Levi Strauss & Co. in a research note on Friday, June 14th. They set a positive rating for the company. TD Cowen decreased their target price on Levi Strauss & Co. from $25.00 to $23.00 and set a buy rating on the stock in a report on Thursday. Telsey Advisory Group reaffirmed an outperform rating and set a $26.00 target price on shares of Levi Strauss & Co. in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on Levi Strauss & Co. from $20.00 to $21.00 and gave the company a neutral rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $22.75.

Levi Strauss & Co. Stock Up 2.0 %

NYSE:LEVI opened at $19.82 on Friday. The business’s fifty day moving average price is $19.19 and its 200 day moving average price is $20.34. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 56.63, a PEG ratio of 1.19 and a beta of 1.14. The company has a current ratio of 1.42, a quick ratio of 0.77 and a debt-to-equity ratio of 0.51. Levi Strauss & Co. has a 1-year low of $12.41 and a 1-year high of $24.34.

Levi Strauss & Co. (NYSE:LEVI) last posted its quarterly 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. Levi Strauss & Co. had a net margin of 2.34% and a return on equity of 23.21%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. On average, sell-side analysts forecast that Levi Strauss & Co. will post 1.25 earnings per share for the current fiscal year.

Levi Strauss & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Tuesday, October 29th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Tuesday, October 29th. Levi Strauss & Co.’s dividend payout ratio (DPR) is presently 148.57%.

Insider Buying and Selling

In related news, Director David A. Friedman sold 4,166 shares of the business’s stock in a transaction that occurred on 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 owns 154,178 shares of the company’s stock, valued at approximately $2,952,508.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Levi Strauss & Co. news, Director David A. Friedman sold 25,002 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $20.00, for a total transaction of $500,040.00. Following the transaction, the director now directly owns 229,176 shares in the company, valued at $4,583,520. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 $2,952,508.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,334 shares of company stock worth $655,765. 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.