Levi Strauss & Co. to Post Q3 2024 Earnings of $0.39 Per Share, Telsey Advisory Group Forecasts (NYSE:LEVI)

Levi Strauss & Co. (NYSE:LEVI) – Analysts at Telsey Advisory Group reduced their Q3 2024 earnings per share estimates for shares of Levi Strauss & Co. in a report released on Thursday, April 4th. Telsey Advisory Group analyst D. Telsey now anticipates that the blue-jean maker will earn $0.39 per share for the quarter, down from their previous estimate of $0.43. Telsey Advisory Group currently has a “Outperform” rating and a $24.00 price target on the stock. The consensus estimate for Levi Strauss & Co.’s current full-year earnings is $1.26 per share. Telsey Advisory Group also issued estimates for Levi Strauss & Co.’s FY2024 earnings at $1.25 EPS.

A number of other research analysts also recently commented on LEVI. JPMorgan Chase & Co. upped their price objective on Levi Strauss & Co. from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday. TD Cowen raised their target price on Levi Strauss & Co. from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Stifel Nicolaus raised their target price on Levi Strauss & Co. from $17.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Morgan Stanley raised their target price on Levi Strauss & Co. from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Finally, UBS Group raised their target price on Levi Strauss & Co. from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Three 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Levi Strauss & Co. Stock Performance

LEVI stock opened at $20.51 on Monday. The firm has a market cap of $8.16 billion, a P/E ratio of 66.16, a P/E/G ratio of 1.18 and a beta of 1.22. The stock’s 50 day simple moving average is $18.38 and its 200 day simple moving average is $16.21. The company has a current ratio of 1.43, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. Levi Strauss & Co. has a 12-month low of $12.41 and a 12-month high of $22.39.

Levi Strauss & Co. (NYSE:LEVI) last posted its quarterly earnings results on Wednesday, April 3rd. The blue-jean maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. Levi Strauss & Co. had a return on equity of 20.68% and a net margin of 2.05%. The business’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Garner Asset Management Corp bought a new stake in shares of Levi Strauss & Co. during the fourth quarter valued at approximately $31,000. Dark Forest Capital Management LP acquired a new stake in Levi Strauss & Co. in the 1st quarter valued at $39,000. Deutsche Bank AG acquired a new stake in Levi Strauss & Co. in the 4th quarter valued at $43,000. Scopus Asset Management L.P. acquired a new stake in Levi Strauss & Co. in the 2nd quarter valued at $53,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Levi Strauss & Co. in the 1st quarter valued at $93,000. 69.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Levi Strauss & Co. news, major shareholder Margaret E. Haas sold 9,462 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $18.01, for a total transaction of $170,410.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Margaret E. Haas sold 9,462 shares of Levi Strauss & Co. stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $18.01, for a total transaction of $170,410.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Tracy Layney sold 15,894 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $17.02, for a total value of $270,515.88. Following the completion of the transaction, the executive vice president now directly owns 41,468 shares in the company, valued at $705,785.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,727 shares of company stock valued at $3,275,016. Corporate insiders own 3.14% of the company’s stock.

Levi Strauss & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Wednesday, May 8th. Levi Strauss & Co.’s dividend payout ratio is 154.84%.

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.