Levi Strauss & Co. (NYSE:LEVI) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Levi Strauss & Co. (NYSE:LEVI) announced its quarterly earnings data on Tuesday. The blue-jean maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.10, MarketWatch Earnings reports. Levi Strauss & Co. had a return on equity of 25.98% and a net margin of 5.78%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was up 40.9% compared to the same quarter last year.

LEVI traded up $2.26 during trading on Thursday, hitting $26.50. The company’s stock had a trading volume of 128,412 shares, compared to its average volume of 1,738,091. The company has a current ratio of 1.83, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88. Levi Strauss & Co. has a twelve month low of $15.03 and a twelve month high of $30.84. The business’s fifty day simple moving average is $26.52 and its 200 day simple moving average is $26.94. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 36.04 and a beta of 1.14.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 18th. Shareholders of record on Monday, August 2nd were issued a $0.08 dividend. This is a positive change from Levi Strauss & Co.’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Friday, July 30th. Levi Strauss & Co.’s dividend payout ratio (DPR) is presently 152.38%.

Several brokerages have recently issued reports on LEVI. Morgan Stanley raised their price objective on Levi Strauss & Co. from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, July 12th. Citigroup raised their price objective on Levi Strauss & Co. from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, July 9th. Evercore ISI raised their target price on Levi Strauss & Co. from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, July 9th. Stifel Nicolaus started coverage on Levi Strauss & Co. in a report on Monday, August 2nd. They set a “buy” rating and a $38.00 target price on the stock. Finally, 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 target price on the stock. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Levi Strauss & Co. has an average rating of “Buy” and an average price target of $32.77.

In other news, Director Jenny J. Ming sold 14,546 shares of Levi Strauss & Co. stock in a transaction that occurred on Wednesday, July 14th. The stock was sold at an average price of $30.00, for a total value of $436,380.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David A. Friedman sold 25,000 shares of Levi Strauss & Co. stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $26.40, for a total value of $660,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,717 shares of company stock worth $2,412,606. 5.77% of the stock is owned by corporate insiders.

A hedge fund recently bought a new stake in Levi Strauss & Co. stock. Invesco Ltd. bought a new stake in Levi Strauss & Co. (NYSE:LEVI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,347 shares of the blue-jean maker’s stock, valued at approximately $287,000. 18.00% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History for Levi Strauss & Co. (NYSE:LEVI)

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