Levi Strauss & Co. (NYSE:LEVI) Releases FY24 Earnings Guidance

Levi Strauss & Co. (NYSE:LEVI) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.17-1.27 for the period, compared to the consensus estimate of $1.25. The company issued revenue guidance of $6.24 billion, compared to the consensus revenue estimate of $6.32 billion.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LEVI. TD Cowen dropped their price target on Levi Strauss & Co. from $26.00 to $25.00 and set a buy rating on the stock in a research report on Friday, September 27th. Telsey Advisory Group reissued an outperform rating and set a $26.00 target price on shares of Levi Strauss & Co. in a report on Friday, September 27th. Bank of America lifted their price target on shares of Levi Strauss & Co. from $19.00 to $22.00 and gave the company a neutral rating in a report on Thursday, June 27th. 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 report on Monday, June 24th. Finally, JPMorgan Chase & Co. reduced their price objective on Levi Strauss & Co. from $21.00 to $20.00 and set a neutral rating for the company in a research report on Thursday, June 27th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $23.25.

Levi Strauss & Co. Stock Performance

LEVI stock traded down $0.61 on Wednesday, reaching $21.07. The company’s stock had a trading volume of 3,601,871 shares, compared to its average volume of 2,203,988. Levi Strauss & Co. has a 52 week low of $12.41 and a 52 week high of $24.34. The company has a market capitalization of $8.38 billion, a P/E ratio of 60.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.14. The firm has a fifty day moving average of $19.04 and a two-hundred day moving average of $20.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.42 and a quick ratio of 0.77.

Insider Buying and Selling

In related news, Director David A. Friedman sold 25,002 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $20.00, for a total transaction of $500,040.00. Following the transaction, the director now owns 229,176 shares in the company, valued at $4,583,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Levi Strauss & Co. news, Director David A. Friedman sold 4,166 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $19.15, for a total value of $79,778.90. Following the sale, the director now directly owns 154,178 shares in the company, valued at $2,952,508.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Friedman sold 25,002 shares of the company’s 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 of the company’s stock, valued at $4,583,520. The disclosure for this sale can be found here. Insiders sold 33,334 shares of company stock valued at $655,765 over the last 90 days. 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.