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

Levi Strauss & Co. (NYSE:LEVI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.170-1.270 for the period, compared to the consensus EPS estimate of 1.270. The company issued revenue guidance of $6.2 billion-$6.4 billion, compared to the consensus revenue estimate of $6.4 billion. Levi Strauss & Co. also updated its FY24 guidance to $1.17-1.27 EPS.

Levi Strauss & Co. Trading Up 0.7 %

Shares of NYSE:LEVI opened at $23.15 on Thursday. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 74.68, a PEG ratio of 1.31 and a beta of 1.19. Levi Strauss & Co. has a 1-year low of $12.41 and a 1-year 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 1.43. The company has a 50 day moving average price of $22.54 and a 200 day moving average price of $19.28.

Levi Strauss & Co. (NYSE:LEVI) last issued its earnings results on Wednesday, June 26th. The blue-jean maker reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Levi Strauss & Co. had a net margin of 2.05% and a return on equity of 20.68%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last 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. On average, research analysts anticipate that Levi Strauss & Co. will post 1.27 EPS for the current fiscal year.

Levi Strauss & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Wednesday, May 8th. Levi Strauss & Co.’s dividend payout ratio is 154.84%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Levi Strauss & Co.

In other Levi Strauss & Co. news, Director David A. Friedman sold 10,422 shares of Levi Strauss & Co. stock in a transaction on Monday, April 1st. The shares were sold at an average price of $20.00, for a total transaction of $208,440.00. Following the completion of the sale, the director now owns 169,008 shares of the company’s stock, valued at approximately $3,380,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Harmit J. Singh sold 346,555 shares of Levi Strauss & Co. stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $22.21, for a total value of $7,696,986.55. Following the completion of the sale, the executive vice president now owns 525,337 shares of the company’s stock, valued at approximately $11,667,734.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David A. Friedman sold 10,422 shares of Levi Strauss & Co. stock in a transaction on Monday, April 1st. The shares were sold at an average price of $20.00, for a total transaction 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 approximately $3,380,160. The disclosure for this sale can be found here. Insiders sold 772,263 shares of company stock valued at $17,256,670 in 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.