Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Levi Strauss Analysts Boost Their Forecasts After Upbeat Earnings

Published 04/04/2024, 18:50
Updated 04/04/2024, 20:10
© Reuters. Levi Strauss Analysts Boost Their Forecasts After Upbeat Earnings

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

Levi Strauss & Co. (NYSE: LEVI) reported upbeat earnings for its first quarter and boosted its 2024 earnings guidance on Wednesday.

Levi Strauss reported first-quarter earnings of 26 cents per share, which beat the analyst consensus estimate of 21 cents by 23.81%. Quarterly sales came in at $1.558 billion which beat the analyst consensus estimate of $1.547 billion and is a 7.76% decrease over sales of $1.689 billion in the same period last year, according to data from Benzinga Pro.

“We started the year strong delivering results above expectations, underscoring the power of the Levi’s brand and the progress we are making on our strategic priorities. Both newness and strength in our core offerings are fueling consumer demand and driving meaningful market share gains,”said Michelle Gass, president and CEO of Levi Strauss & Co.

The company raised its fiscal year 2024 adjusted earnings per share guidance from between $1.15 and $1.25 per share to between $1.17 and $1.27 per share, versus the $1.21 per share estimate.

Levi Strauss shares gained 18% to trade at $22.01 on Thursday.

These analysts made changes to their price targets on Levi Strauss following earnings announcement.

  • Telsey Advisory Group raised the price target on Levi Strauss from $22 to $24. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating.
  • TD Cowen boosted the price target on Levi Strauss from $19 to $23. TD Cowen analyst Oliver Chen maintained a Buy rating.
  • Wells Fargo increased the price target on Levi Strauss from $17 to $20. Wells Fargo analyst Ike Boruchow maintained an Equal-Weight rating.
  • UBS raised the price target on Levi Strauss from $23 to $25. UBS analyst Jay Sole maintained a Buy rating.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Now Read This: Levi Strauss, Conagra Brands And 3 Stocks To Watch Heading Into Thursday

Latest Ratings for LEVI

Jan 2022Telsey Advisory GroupMaintainsOutperform
Jan 2022JP MorganMaintainsOverweight
Aug 2021Wells FargoInitiates Coverage OnOverweight

View the Latest Analyst Ratings

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.