Levi Strauss & Co. (NYSE:LEVI) Releases 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 $1.27. The company issued revenue guidance of $6.24-6.36 billion, compared to the consensus revenue estimate of $6.35 billion.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LEVI shares. UBS Group raised their price objective on Levi Strauss & Co. from $23.00 to $25.00 and gave the company a buy rating in a research report on Thursday, April 4th. Morgan Stanley raised their target price 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. OTR Global started coverage on Levi Strauss & Co. in a research report on Friday, June 14th. They set a positive rating on the stock. Wells Fargo & Company lifted their target price on Levi Strauss & Co. from $17.00 to $20.00 and gave the stock an equal weight rating in a report on Thursday, April 4th. Finally, Stifel Nicolaus lifted their target price on shares of Levi Strauss & Co. from $24.00 to $28.00 and gave the company a buy rating in a report on Monday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Levi Strauss & Co. currently has a consensus rating of Moderate Buy and a consensus target price of $21.56.

Levi Strauss & Co. Stock Performance

Shares of NYSE LEVI traded up $0.12 during mid-day trading on Wednesday, hitting $23.12. 5,139,921 shares of the company were exchanged, compared to its average volume of 2,327,792. The stock has a 50 day simple moving average of $22.49 and a 200-day simple moving average of $19.25. Levi Strauss & Co. has a 1-year low of $12.41 and a 1-year high of $24.34. The company has a quick ratio of 0.78, a current ratio of 1.43 and a debt-to-equity ratio of 0.51. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 74.45, a price-to-earnings-growth ratio of 1.31 and a beta of 1.19.

Levi Strauss & Co. (NYSE:LEVI) last issued its quarterly earnings results on Wednesday, April 3rd. The blue-jean maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. Levi Strauss & Co. had a net margin of 2.05% and a return on equity of 20.68%. The business’s revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. On average, sell-side analysts forecast that Levi Strauss & Co. will post 1.27 EPS for the current fiscal year.

Levi Strauss & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were paid a $0.12 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.08%. Levi Strauss & Co.’s dividend payout ratio (DPR) is presently 154.84%.

Insider Buying and Selling

In other news, Director David A. Friedman sold 35,415 shares of Levi Strauss & Co. stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $20.00, for a total transaction of $708,300.00. Following the completion of the sale, the director now directly owns 179,430 shares in the company, valued at approximately $3,588,600. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Bradley J. Haas sold 23,041 shares of Levi Strauss & Co. stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $20.01, for a total transaction of $461,050.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Friedman sold 35,415 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $20.00, for a total transaction of $708,300.00. Following the completion of the transaction, the director now owns 179,430 shares in the company, valued at $3,588,600. The disclosure for this sale can be found here. Insiders have sold 830,719 shares of company stock valued at $18,426,020 over the last quarter. Company insiders own 3.14% of the company’s stock.

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.