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

Levi Strauss & Co. (NYSE:LEVI) issued its earnings results on Wednesday. The blue-jean maker reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05, Briefing.com reports. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Levi Strauss & Co. had a return on equity of 23.11% and a net margin of 2.34%. Levi Strauss & Co.’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 earnings per share. 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. Trading Down 15.3 %

Shares of LEVI opened at $19.59 on Friday. Levi Strauss & Co. has a 12-month low of $12.41 and a 12-month high of $24.34. The company has a quick ratio of 0.78, a current ratio of 1.43 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 55.97, a P/E/G ratio of 1.32 and a beta of 1.19. The stock’s 50-day moving average price is $22.52 and its 200 day moving average price is $19.28.

Levi Strauss & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.48 annualized dividend and a yield of 2.45%. Levi Strauss & Co.’s dividend payout ratio is 137.15%.

Insider Activity at Levi Strauss & Co.

In related 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 available through this link. In other Levi Strauss & Co. news, major shareholder Bradley J. Haas sold 26,959 shares of Levi Strauss & Co. stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $20.14, for a total transaction of $542,954.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David A. Friedman sold 10,422 shares of Levi Strauss & Co. stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $20.00, for a total value of $208,440.00. Following the sale, the director now directly owns 169,008 shares in the company, valued at $3,380,160. The disclosure for this sale can be found here. Insiders have sold 772,263 shares of company stock worth $17,256,670 over the last three months. Company insiders own 3.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on LEVI shares. Wells Fargo & Company raised their target price on Levi Strauss & Co. from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. OTR Global initiated coverage on Levi Strauss & Co. in a report on Friday, June 14th. They set a “positive” rating on the stock. Morgan Stanley lifted their price objective on Levi Strauss & Co. from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Bank of America lifted their price objective on Levi Strauss & Co. from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on Levi Strauss & Co. from $21.00 to $20.00 and set a “neutral” rating on the stock 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

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.