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

Levi Strauss & Co. (NYSE:LEVI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.170-1.270 for the period, compared to the consensus earnings per share estimate of 1.250. The company issued revenue guidance of $6.2 billion-$6.2 billion, compared to the consensus revenue estimate of $6.3 billion. Levi Strauss & Co. also updated its FY24 guidance to $1.17-1.27 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Levi Strauss & Co. from $28.00 to $25.00 and set a buy rating for the company in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Levi Strauss & Co. from $20.00 to $21.00 and gave the stock a neutral rating in a research note on Thursday. TD Cowen dropped their price target on shares of Levi Strauss & Co. from $25.00 to $23.00 and set a buy rating for the company in a research note on Thursday. Telsey Advisory Group restated an outperform rating and set a $26.00 price objective on shares of Levi Strauss & Co. in a report on Thursday. Finally, Bank of America boosted their price objective on shares of Levi Strauss & Co. from $19.00 to $22.00 and gave the company a neutral rating in a report on Thursday, June 27th. Four equities 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, Levi Strauss & Co. has a consensus rating of Moderate Buy and an average price target of $22.75.

Levi Strauss & Co. Stock Performance

NYSE LEVI opened at $19.45 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.77 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average price is $19.15 and its two-hundred day moving average price is $20.33. Levi Strauss & Co. has a 1 year low of $12.41 and a 1 year high of $24.34. The firm has a market capitalization of $7.73 billion, a P/E ratio of 55.57, a price-to-earnings-growth ratio of 1.19 and a beta of 1.14.

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

Levi Strauss & Co. Dividend Announcement

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

Insiders Place Their Bets

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 sale, the director now directly owns 154,178 shares in the company, valued at approximately $2,952,508.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related 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 in the company, valued at approximately $2,952,508.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David A. Friedman sold 25,002 shares of the firm’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 transaction of $500,040.00. Following the completion of the transaction, the director now owns 229,176 shares of the company’s stock, valued at approximately $4,583,520. The disclosure for this sale can be found here. Insiders have sold 33,334 shares of company stock worth $655,765 over the last ninety days. 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.