Levi Strauss & Co. (NYSE:LEVI) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Levi Strauss & Co. (NYSE:LEVI) issued its quarterly earnings results on Wednesday. The blue-jean maker reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05, 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 $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. 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. Stock Performance

Shares of NYSE LEVI opened at $19.28 on Friday. The stock has a 50 day moving average price of $22.50 and a 200 day moving average price of $19.31. Levi Strauss & Co. has a 52 week low of $12.41 and a 52 week high of $24.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 1.42. The stock has a market capitalization of $7.67 billion, a PE ratio of 55.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.19.

Levi Strauss & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 2nd will be given a dividend of $0.13 per share. The ex-dividend date is Friday, August 2nd. This is a boost from Levi Strauss & Co.’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.70%. Levi Strauss & Co.’s dividend payout ratio is 137.15%.

Insider Activity at Levi Strauss & Co.

In related news, major shareholder Bradley J. Haas sold 26,959 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $20.14, for a total transaction of $542,954.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director David A. Friedman sold 10,422 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $20.00, for a total value of $208,440.00. Following the completion of the sale, the director now directly owns 169,008 shares of the company’s stock, valued at $3,380,160. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bradley J. Haas sold 26,959 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $20.14, for a total value of $542,954.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 772,263 shares of company stock valued at $17,256,670. Insiders own 3.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on LEVI. Telsey Advisory Group reiterated an “outperform” rating and issued a $26.00 price objective on shares of Levi Strauss & Co. in a report on Thursday. Wells Fargo & Company upped their price objective 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. UBS Group upped their price objective on Levi Strauss & Co. from $23.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, April 4th. 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. Finally, OTR Global began coverage on Levi Strauss & Co. in a report on Friday, June 14th. They issued a “positive” rating for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Levi Strauss & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

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.