Levi Strauss & Co. (NYSE:LEVI) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Levi Strauss & Co. (NYSE:LEVI) posted its quarterly earnings results on Wednesday. The blue-jean maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.12, FiscalAI reports. Levi Strauss & Co. had a return on equity of 25.79% and a net margin of 9.66%.The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion.

Levi Strauss & Co. Price Performance

Shares of LEVI stock traded down $1.05 during midday trading on Wednesday, reaching $19.48. 14,530,905 shares of the company were exchanged, compared to its average volume of 2,687,790. The company has a market cap of $7.50 billion, a P/E ratio of 12.03, a PEG ratio of 1.34 and a beta of 1.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.98 and a current ratio of 1.60. Levi Strauss & Co. has a 12 month low of $17.72 and a 12 month high of $25.70. The company’s 50 day moving average price is $21.40 and its two-hundred day moving average price is $22.13.

Insider Activity

In other news, EVP Harmit Singh sold 98,144 shares of Levi Strauss & Co. stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $24.22, for a total transaction of $2,377,047.68. Following the transaction, the executive vice president owned 98,747 shares in the company, valued at approximately $2,391,652.34. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Telsey Advisory Group boosted their price objective on shares of Levi Strauss & Co. from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. UBS Group reaffirmed a “buy” rating on shares of Levi Strauss & Co. in a report on Wednesday, September 23rd. Jefferies Financial Group cut their price target on Levi Strauss & Co. from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. Raymond James Financial raised their target price on shares of Levi Strauss & Co. from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Levi Strauss & Co. from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.25.

About Levi Strauss & Co.

Levi Strauss & Co is an apparel company best known for its Levi’s brand of denim jeans and related clothing. Its product portfolio includes jeans, tops, bottoms, jackets, footwear, accessories and other casualwear for men, women and children.

Founded in 1853 and headquartered in San Francisco, California, the company also owns the Dockers, Beyond Yoga and Signature by Levi Strauss & Co brands. Levi Strauss & Co sells its products through company-operated stores, e-commerce platforms, wholesale partners and other distribution channels.

The company serves customers in North America, Europe, Asia and other international markets.