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

Levi Strauss & Co. (NYSE:LEVI) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.170-1.270 for the period, compared to the consensus EPS 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.

Levi Strauss & Co. Price Performance

Levi Strauss & Co. stock opened at $19.82 on Friday. The firm has a market cap of $7.88 billion, a PE ratio of 56.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.42 and a quick ratio of 0.77. The stock’s fifty day moving average price is $19.19 and its two-hundred day moving average price is $20.34. Levi Strauss & Co. has a one year low of $12.41 and a one year high of $24.34.

Levi Strauss & Co. (NYSE:LEVI) last issued its quarterly earnings results on Wednesday, October 2nd. The blue-jean maker reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Levi Strauss & Co. had a return on equity of 23.21% and a net margin of 2.34%. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the business earned $0.28 earnings per share. Levi Strauss & Co.’s revenue was up .4% on a year-over-year basis. As a group, research analysts expect 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 2.62%. The ex-dividend date is Tuesday, October 29th. Levi Strauss & Co.’s payout ratio is presently 148.57%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Levi Strauss & Co. from $28.00 to $25.00 and set a buy rating on the stock in a research note on Thursday. OTR Global assumed coverage on Levi Strauss & Co. in a research note on Friday, June 14th. They issued a positive rating on the stock. TD Cowen lowered their price target on Levi Strauss & Co. from $25.00 to $23.00 and set a buy rating for the company in a report on Thursday. Telsey Advisory Group reaffirmed an outperform rating and issued a $26.00 price objective on shares of Levi Strauss & Co. in a research note on Thursday. Finally, 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 report on Thursday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $22.75.

Insider Buying and Selling

In other Levi Strauss & Co. news, Director David A. Friedman sold 4,166 shares of the 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 transaction, the director now directly owns 154,178 shares in the company, valued at approximately $2,952,508.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David A. Friedman sold 25,002 shares of Levi Strauss & Co. 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Friedman sold 4,166 shares of the company’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 transaction of $79,778.90. Following the completion of the transaction, the director now owns 154,178 shares of the company’s stock, valued at approximately $2,952,508.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,334 shares of company stock worth $655,765 in the last 90 days. 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.