Levi Strauss & Co. (NYSE:LEVI) Updates FY 2021 Earnings Guidance

Levi Strauss & Co. (NYSE:LEVI) issued an update on its FY 2021 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.430-$1.450 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.330. The company issued revenue guidance of -.Levi Strauss & Co. also updated its Q4 2021 guidance to $0.380-$0.400 EPS.

Shares of NYSE:LEVI traded down $0.13 during midday trading on Thursday, reaching $24.57. The company’s stock had a trading volume of 5,183 shares, compared to its average volume of 2,806,381. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 19.59 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.32 and a current ratio of 1.83. The firm has a 50 day moving average price of $26.25 and a two-hundred day moving average price of $26.98. Levi Strauss & Co. has a fifty-two week low of $15.17 and a fifty-two week high of $30.84.

Levi Strauss & Co. (NYSE:LEVI) last announced its quarterly earnings data on Tuesday, October 5th. The blue-jean maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Levi Strauss & Co. had a return on equity of 35.65% and a net margin of 8.37%. The firm’s revenue was up 40.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. As a group, research analysts anticipate that Levi Strauss & Co. will post 1.44 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 17th. Stockholders of record on Friday, October 29th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, October 28th. Levi Strauss & Co.’s dividend payout ratio is 152.38%.

A number of research firms recently weighed in on LEVI. Wells Fargo & Company began coverage on Levi Strauss & Co. in a research note on Monday, August 30th. They set an overweight rating and a $31.00 price target on the stock. Stifel Nicolaus began coverage on Levi Strauss & Co. in a research note on Monday, August 2nd. They set a buy rating and a $38.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Levi Strauss & Co. from $34.00 to $35.00 and gave the stock an overweight rating in a research note on Friday, July 9th. The Goldman Sachs Group started coverage on Levi Strauss & Co. in a report on Wednesday, July 14th. They set a buy rating and a $36.00 price objective for the company. Finally, Citigroup boosted their price objective on Levi Strauss & Co. from $29.00 to $32.00 and gave the stock a buy rating in a report on Friday, July 9th. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Buy and a consensus target price of $32.77.

In other Levi Strauss & Co. news, EVP Seth Jaffe sold 39,830 shares of the stock in a transaction on Wednesday, October 6th. The stock was sold at an average price of $24.43, for a total transaction of $973,046.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David A. Friedman sold 25,000 shares of the stock in a transaction on Monday, August 16th. The stock was sold at an average price of $27.62, for a total value of $690,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,965 shares of company stock valued at $2,948,192. 5.77% of the stock is currently owned by corporate insiders.

An institutional investor recently bought a new position in Levi Strauss & Co. stock. Invesco Ltd. bought a new position in shares of Levi Strauss & Co. (NYSE:LEVI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,347 shares of the blue-jean maker’s stock, valued at approximately $287,000. Institutional investors own 18.00% of the company’s stock.

Levi Strauss & Co. Company Profile

Levi Strauss & Co engages in the design, marketing, and sale of apparel products. The company offers jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories. It operates through the following geographical segments: Americas, Europe, and Asia. The company was founded by Levi Strauss in 1853 and is headquartered in San Francisco, CA.

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