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

Levi Strauss & Co. (NYSE:LEVI) – Stock analysts at Telsey Advisory Group dropped their Q3 2024 earnings per share (EPS) estimates for Levi Strauss & Co. in a research note issued 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 forecast of $0.43. Telsey Advisory Group 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.

Levi Strauss & Co. (NYSE:LEVI) last announced its 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 analysts’ expectations 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 for the quarter was down 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS.

LEVI has been the topic of several other research reports. Stifel Nicolaus increased their target price on Levi Strauss & Co. from $17.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Morgan Stanley increased their target price on Levi Strauss & Co. from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. UBS Group increased their price objective on Levi Strauss & Co. from $23.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, April 4th. TheStreet upgraded Levi Strauss & Co. from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. increased their price objective on Levi Strauss & Co. from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Levi Strauss & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

Levi Strauss & Co. Stock Down 0.2 %

Shares of NYSE LEVI opened at $20.51 on Monday. The company has a current ratio of 1.43, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $8.16 billion, a PE ratio of 66.16, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The stock’s fifty day simple moving average is $18.38 and its two-hundred day simple moving average is $16.21. Levi Strauss & Co. has a 12-month low of $12.41 and a 12-month high of $22.39.

Levi Strauss & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.48 dividend on an annualized basis and a yield of 2.34%. Levi Strauss & Co.’s dividend payout ratio (DPR) is 154.84%.

Insider Buying and Selling

In other Levi Strauss & Co. news, EVP Tracy Layney sold 15,894 shares of Levi Strauss & Co. stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $17.02, for a total transaction of $270,515.88. Following the completion of the transaction, the executive vice president now owns 41,468 shares in the company, valued at approximately $705,785.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Levi Strauss & Co. news, EVP Tracy Layney sold 15,894 shares of Levi Strauss & Co. stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $17.02, for a total transaction of $270,515.88. Following the completion of the transaction, the executive vice president now owns 41,468 shares in the company, valued at approximately $705,785.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bradley J. Haas sold 14,015 shares of Levi Strauss & Co. stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $22.05, for a total value of $309,030.75. The disclosure for this sale can be found here. Insiders sold 168,727 shares of company stock worth $3,275,016 in the last 90 days. Insiders own 3.14% of the company’s stock.

Institutional Investors Weigh In On Levi Strauss & Co.

A number of institutional investors have recently modified their holdings of the business. California State Teachers Retirement System grew its position in shares of Levi Strauss & Co. by 0.7% during the 4th quarter. California State Teachers Retirement System now owns 84,278 shares of the blue-jean maker’s stock valued at $1,394,000 after acquiring an additional 618 shares during the period. Cutter & CO Brokerage Inc. grew its position in shares of Levi Strauss & Co. by 4.9% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 17,000 shares of the blue-jean maker’s stock valued at $231,000 after acquiring an additional 800 shares during the period. Deutsche Bank AG grew its position in shares of Levi Strauss & Co. by 30.6% during the 1st quarter. Deutsche Bank AG now owns 3,636 shares of the blue-jean maker’s stock valued at $66,000 after acquiring an additional 851 shares during the period. Strategic Advisors LLC grew its position in shares of Levi Strauss & Co. by 5.2% during the 3rd quarter. Strategic Advisors LLC now owns 18,600 shares of the blue-jean maker’s stock valued at $253,000 after acquiring an additional 927 shares during the period. Finally, Advisor Group Holdings Inc. grew its position in shares of Levi Strauss & Co. by 2.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 34,037 shares of the blue-jean maker’s stock valued at $528,000 after acquiring an additional 941 shares during the period. 69.14% of the stock is currently owned by institutional investors and hedge funds.

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.