Levi Strauss & Co. (NYSE:LEVI) to Post FY2024 Earnings of $1.23 Per Share, Telsey Advisory Group Forecasts

Levi Strauss & Co. (NYSE:LEVI) – Equities researchers at Telsey Advisory Group dropped their FY2024 earnings estimates for shares of Levi Strauss & Co. in a note issued to investors on Thursday, October 3rd. Telsey Advisory Group analyst D. Telsey now anticipates that the blue-jean maker will post earnings per share of $1.23 for the year, down from their previous estimate of $1.27. Telsey Advisory Group has a “Outperform” rating and a $26.00 price objective on the stock. The consensus estimate for Levi Strauss & Co.’s current full-year earnings is $1.25 per share. Telsey Advisory Group also issued estimates for Levi Strauss & Co.’s Q4 2024 earnings at $0.48 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.51 EPS and FY2025 earnings at $1.42 EPS.

Levi Strauss & Co. (NYSE:LEVI) last issued its earnings results on Wednesday, October 2nd. The blue-jean maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.55 billion. Levi Strauss & Co. had a net margin of 2.34% and a return on equity of 23.21%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share.

Several other brokerages also recently weighed in on LEVI. JPMorgan Chase & Co. lifted their target price on shares of Levi Strauss & Co. from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday. TD Cowen lowered their target price on shares of Levi Strauss & Co. from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday. OTR Global assumed coverage on shares of Levi Strauss & Co. in a report on Friday, June 14th. They issued a “positive” rating on the stock. Bank of America raised their price objective on shares of Levi Strauss & Co. from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, June 27th. Finally, Stifel Nicolaus reduced their price objective on shares of Levi Strauss & Co. from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.75.

Levi Strauss & Co. Stock Down 7.6 %

Shares of NYSE:LEVI opened at $19.45 on Friday. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 55.57, a PEG ratio of 1.19 and a beta of 1.14. The firm’s 50-day simple moving average is $19.11 and its 200-day simple moving average is $20.34. The company has a quick ratio of 0.77, a current ratio of 1.42 and a debt-to-equity ratio of 0.51. Levi Strauss & Co. has a fifty-two week low of $12.41 and a fifty-two week high of $24.34.

Levi Strauss & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Tuesday, October 29th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Tuesday, October 29th. Levi Strauss & Co.’s payout ratio is currently 148.57%.

Insiders Place Their Bets

In other Levi Strauss & Co. news, Director David A. Friedman sold 4,166 shares of Levi Strauss & Co. stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $18.23, for a total transaction of $75,946.18. Following the completion of the transaction, the director now owns 158,344 shares in the company, valued at $2,886,611.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Levi Strauss & Co. news, Director David A. Friedman sold 25,002 shares of Levi Strauss & Co. 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 in the company, valued at $4,583,520. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David A. Friedman sold 4,166 shares of Levi Strauss & Co. stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $18.23, for a total transaction of $75,946.18. Following the sale, the director now owns 158,344 shares of the company’s stock, valued at $2,886,611.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,334 shares of company stock worth $655,765. Insiders own 3.14% of the company’s stock.

Institutional Investors Weigh In On Levi Strauss & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Brandes Investment Partners LP grew its holdings in shares of Levi Strauss & Co. by 1.8% during the second quarter. Brandes Investment Partners LP now owns 42,745 shares of the blue-jean maker’s stock worth $824,000 after buying an additional 743 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Levi Strauss & Co. by 1.0% during the first quarter. California State Teachers Retirement System now owns 85,129 shares of the blue-jean maker’s stock worth $1,702,000 after buying an additional 851 shares in the last quarter. Waycross Investment Management Co grew its holdings in shares of Levi Strauss & Co. by 2.6% during the second quarter. Waycross Investment Management Co now owns 38,195 shares of the blue-jean maker’s stock worth $736,000 after buying an additional 955 shares in the last quarter. BTC Capital Management Inc. grew its holdings in shares of Levi Strauss & Co. by 11.6% during the second quarter. BTC Capital Management Inc. now owns 16,441 shares of the blue-jean maker’s stock worth $317,000 after buying an additional 1,715 shares in the last quarter. Finally, 272 Capital LP purchased a new stake in shares of Levi Strauss & Co. during the second quarter worth about $35,000. 69.14% of the stock is currently owned by hedge funds and other institutional investors.

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.