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

Levi Strauss & Co. (NYSE:LEVI) posted its earnings results on Wednesday. The blue-jean maker reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05, Briefing.com reports. Levi Strauss & Co. had a net margin of 2.34% and a return on equity of 23.11%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm posted $0.04 earnings per share. Levi Strauss & Co.’s revenue for the quarter was up 7.8% compared to the same quarter last year. 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

Shares of LEVI stock opened at $19.59 on Friday. Levi Strauss & Co. has a fifty-two week low of $12.41 and a fifty-two week high of $24.34. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 55.97, a PEG ratio of 1.32 and a beta of 1.19. 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 stock’s 50-day simple moving average is $22.52 and its 200-day simple moving average is $19.28.

Levi Strauss & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.48 annualized dividend and a yield of 2.45%. Levi Strauss & Co.’s dividend payout ratio (DPR) is presently 137.15%.

Insider Transactions at Levi Strauss & Co.

In other news, major shareholder Bradley J. Haas sold 26,959 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was 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 accessible through this hyperlink. In other news, major shareholder Bradley J. Haas sold 26,959 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was 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 accessible through this hyperlink. Also, EVP Harmit J. Singh sold 346,555 shares of Levi Strauss & Co. stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $22.21, for a total value of $7,696,986.55. Following the sale, the executive vice president now directly owns 525,337 shares of the company’s stock, valued at approximately $11,667,734.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 772,263 shares of company stock worth $17,256,670. Insiders own 3.14% of the company’s stock.

Analysts Set New Price Targets

LEVI has been the subject of a number of recent research reports. Wells Fargo & Company raised 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 report on Thursday, April 4th. Stifel Nicolaus raised their price target on Levi Strauss & Co. from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America raised their price target on Levi Strauss & Co. from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on Levi Strauss & Co. from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, OTR Global started coverage on Levi Strauss & Co. in a report on Friday, June 14th. They issued a “positive” rating for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.33.

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.