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

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. OTR Global assumed coverage on shares of Levi Strauss & Co. in a research report on Friday, June 14th. They issued a positive rating for the company. JPMorgan Chase & Co. decreased their price objective on shares of Levi Strauss & Co. from $21.00 to $20.00 and set a neutral rating for the company in a research report on Thursday. UBS Group raised 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 note on Thursday, April 4th. Stifel Nicolaus raised their target price 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, June 24th. Finally, Morgan Stanley raised their target price 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 Friday, April 5th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $22.33.

Levi Strauss & Co. Price Performance

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

Levi Strauss & Co. (NYSE:LEVI) last issued its quarterly earnings data on Wednesday, June 26th. The blue-jean maker reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. Levi Strauss & Co. had a net margin of 2.34% and a return on equity of 23.21%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the company earned $0.04 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Analysts forecast that Levi Strauss & Co. will post 1.26 EPS for the current year.

Levi Strauss & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be issued a $0.13 dividend. This is a positive change from Levi Strauss & Co.’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, August 2nd. Levi Strauss & Co.’s dividend payout ratio (DPR) is currently 137.15%.

Insider Activity at Levi Strauss & Co.

In related news, major shareholder Bradley J. Haas sold 26,959 shares of Levi Strauss & Co. stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $20.14, for a total transaction of $542,954.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Levi Strauss & Co. news, Director David A. Friedman sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $21.23, for a total transaction of $265,375.00. Following the sale, the director now directly owns 187,508 shares of the company’s stock, valued at approximately $3,980,794.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bradley J. Haas sold 26,959 shares of the business’s 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 disclosure for this sale can be found here. In the last three months, insiders have sold 772,263 shares of company stock valued at $17,256,670. 3.14% of the stock is owned by insiders.

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.