Levi Strauss & Co. (NYSE:LEVI) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Levi Strauss & Co. (NYSE:LEVI) posted its quarterly earnings results on Wednesday. The blue-jean maker reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02, Briefing.com reports. Levi Strauss & Co. had a net margin of 2.34% and a return on equity of 23.21%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the business posted $0.28 earnings per share. Levi Strauss & Co.’s quarterly revenue was up .4% on a year-over-year basis. 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. Price Performance

NYSE:LEVI opened at $21.05 on Thursday. Levi Strauss & Co. has a 52 week low of $12.41 and a 52 week high of $24.34. The stock’s fifty day moving average is $19.04 and its two-hundred day moving average is $20.33. The company has a market capitalization of $8.37 billion, a P/E ratio of 60.14, a P/E/G ratio of 1.19 and a beta of 1.14. The company has a quick ratio of 0.77, a current ratio of 1.42 and a debt-to-equity ratio of 0.51.

Analyst Ratings Changes

A number of research analysts have weighed in on LEVI shares. Telsey Advisory Group reissued an “outperform” rating and issued a $26.00 target price on shares of Levi Strauss & Co. in a research note on Friday, September 27th. JPMorgan Chase & Co. reduced their price objective on Levi Strauss & Co. from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. TD Cowen lowered their price objective on Levi Strauss & Co. from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. OTR Global assumed coverage on Levi Strauss & Co. in a research note on Friday, June 14th. They issued a “positive” rating for the company. Finally, Bank of America boosted their price target on shares of Levi Strauss & Co. from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, June 27th. Four equities 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.25.

Insider Transactions at Levi Strauss & Co.

In other Levi Strauss & Co. 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 transaction, the director now owns 229,176 shares of the company’s stock, valued at $4,583,520. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director David A. Friedman sold 4,166 shares of Levi Strauss & Co. stock in a transaction on 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 sale, the director now directly owns 154,178 shares of the company’s stock, valued at $2,952,508.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Friedman sold 25,002 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $20.00, for a total value of $500,040.00. Following the completion of the sale, the director now owns 229,176 shares in the company, valued at approximately $4,583,520. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,334 shares of company stock worth $655,765. 3.14% of the stock is currently owned by company 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.