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

Levi Strauss & Co. (NYSE:LEVI) posted its quarterly earnings data 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. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Levi Strauss & Co. had a net margin of 2.05% and a return on equity of 20.68%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.04 earnings per share. 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 Up 0.7 %

Shares of NYSE:LEVI opened at $23.15 on Thursday. 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 market cap of $9.21 billion, a PE ratio of 74.68, a price-to-earnings-growth ratio of 1.31 and a beta of 1.19. Levi Strauss & Co. has a 52 week low of $12.41 and a 52 week high of $24.34. The firm has a 50 day simple moving average of $22.54 and a 200 day simple moving average of $19.28.

Levi Strauss & Co. Dividend Announcement

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

Insider Activity at Levi Strauss & Co.

In other Levi Strauss & Co. news, major shareholder Bradley J. Haas sold 26,959 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is available at this link. In other Levi Strauss & Co. news, major shareholder Bradley J. Haas sold 26,959 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $20.14, for a total transaction of $542,954.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David A. Friedman sold 10,422 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $20.00, for a total value of $208,440.00. Following the sale, the director now owns 169,008 shares of the company’s stock, valued at approximately $3,380,160. The disclosure for this sale can be found here. In the last 90 days, insiders sold 772,263 shares of company stock worth $17,256,670. 3.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Levi Strauss & Co. from $23.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, April 4th. TD Cowen increased their price objective on shares of Levi Strauss & Co. from $23.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley increased their target price on shares of Levi Strauss & Co. from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Wells Fargo & Company increased their target price on shares of Levi Strauss & Co. from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Finally, Stifel Nicolaus increased their target price on shares of Levi Strauss & Co. from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.56.

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.