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

by · The Cerbat Gem

Levi Strauss & Co. (NYSE:LEVI – Get Free Report) announced its earnings results on Wednesday. The blue-jean maker reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02, Briefing.com reports. 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 return on equity of 23.21% and a net margin of 2.34%. The company’s revenue was up .4% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. 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. Stock Up 2.0 %

Shares of Levi Strauss & Co. stock opened at $19.82 on Friday. The business has a 50-day moving average price of $19.19 and a 200 day moving average price of $20.34. 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 cap of $7.88 billion, a P/E ratio of 56.63, 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.

Levi Strauss & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Tuesday, October 29th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, October 29th. This represents a $0.52 dividend on an annualized basis and a yield of 2.62%. Levi Strauss & Co.’s dividend payout ratio (DPR) is 148.57%.

Insiders Place Their Bets

In other Levi Strauss & Co. news, Director David A. Friedman sold 25,002 shares of Levi Strauss & Co. 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 transaction, the director now owns 229,176 shares of the company’s stock, valued at $4,583,520. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related 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 sale, the director now owns 229,176 shares in the company, valued at $4,583,520. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Friedman sold 4,166 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.15, for a total transaction of $79,778.90. Following the completion of the transaction, the director now directly owns 154,178 shares in the company, valued at $2,952,508.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,334 shares of company stock valued at $655,765 in the last quarter. Insiders own 3.14% of the company’s stock.

Analyst Ratings Changes

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

View Our Latest Stock Report on LEVI

Levi Strauss & Co. Company Profile

(Get Free Report)

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.

See Also