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

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

Analyst Ratings Changes

Several analysts recently weighed in on LEVI shares. TD Cowen cut their price objective 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 price objective on shares of Levi Strauss & Co. in a research report on Thursday. OTR Global began coverage on Levi Strauss & Co. in a research report on Friday, June 14th. They issued a positive rating on the stock. JPMorgan Chase & Co. lifted their target price on Levi Strauss & Co. from $20.00 to $21.00 and gave the company a neutral rating in a research note on Thursday. Finally, 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 research note on Thursday, June 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $22.75.

Levi Strauss & Co. Stock Performance

LEVI opened at $19.45 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.42 and a debt-to-equity ratio of 0.51. The firm has a market cap of $7.73 billion, a PE ratio of 55.57, a P/E/G ratio of 1.19 and a beta of 1.14. The business has a fifty day simple moving average of $19.15 and a 200-day simple moving average of $20.33. Levi Strauss & Co. has a fifty-two week low of $12.41 and a fifty-two week high of $24.34.

Levi Strauss & Co. (NYSE:LEVI) last announced its earnings results on Wednesday, October 2nd. The blue-jean maker reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. Levi Strauss & Co. had a return on equity of 23.21% and a net margin of 2.34%. Levi Strauss & Co.’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, equities analysts predict that Levi Strauss & Co. will post 1.25 EPS for the current fiscal year.

Levi Strauss & Co. Announces Dividend

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

Insider Activity

In other news, Director David A. Friedman sold 4,166 shares of the stock in a transaction 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 in the company, valued at $2,952,508.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David A. Friedman sold 4,166 shares of the company’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 transaction, the director now owns 154,178 shares in the company, valued at approximately $2,952,508.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the director now directly owns 229,176 shares of the company’s stock, valued at $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 90 days. 3.14% of the stock is owned by company insiders.

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.