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 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. Stock Performance

Shares of Levi Strauss & Co. stock traded down $0.63 during trading hours on Wednesday, reaching $21.05. The company had a trading volume of 6,115,029 shares, compared to its average volume of 2,216,208. The firm has a market cap of $8.37 billion, a PE ratio of 60.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.14. Levi Strauss & Co. has a one year low of $12.41 and a one year high of $24.34. 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 business has a fifty day simple moving average of $19.04 and a 200 day simple moving average of $20.33.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LEVI shares. Bank of America upped their price target on Levi Strauss & Co. from $19.00 to $22.00 and gave the company a neutral rating in a research report on Thursday, June 27th. OTR Global began coverage on shares of Levi Strauss & Co. in a research note on Friday, June 14th. They issued a positive rating on the stock. Telsey Advisory Group restated an outperform rating and set a $26.00 price target on shares of Levi Strauss & Co. in a research report on Friday, September 27th. JPMorgan Chase & Co. decreased their price target on shares of Levi Strauss & Co. from $21.00 to $20.00 and set a neutral rating on the stock in a report on Thursday, June 27th. Finally, Stifel Nicolaus lifted their price objective on Levi Strauss & Co. from $24.00 to $28.00 and gave the company a buy rating in a research note on Monday, June 24th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $23.25.

Insiders Place Their Bets

In related news, Director David A. Friedman sold 4,166 shares of Levi Strauss & Co. stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $18.23, for a total value of $75,946.18. Following the transaction, the director now owns 158,344 shares in the company, valued at approximately $2,886,611.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director David A. Friedman sold 25,002 shares of the stock in a transaction dated Monday, September 16th. The shares were 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 in the company, valued at $4,583,520. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David A. Friedman sold 4,166 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $18.23, for a total value of $75,946.18. Following the completion of the sale, the director now owns 158,344 shares of the company’s stock, valued at approximately $2,886,611.12. The disclosure for this sale can be found here. Insiders sold a total of 33,334 shares of company stock valued at $655,765 over the last quarter. 3.14% of the stock is owned by corporate 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.