Levi Strauss Eyes Second Quarter Earnings and Analysts' Insights
Levi Strauss & Co. Prepares for Earnings Announcement
Levi Strauss & Co. (NYSE: LEVI) is gearing up to unveil its earnings results for the second quarter soon. The company is expected to share insights into its financial health following its closing bell report.
Quarterly Earnings Expectations
For this upcoming earnings report, analysts predict that Levi Strauss will report earnings per share of 13 cents. This marks a decline from the previous year, where earnings were reported at 16 cents per share. Furthermore, the company is anticipated to announce revenue of $1.37 billion, a decrease compared to $1.44 billion from the same quarter last year.
Recent Corporate Developments
In a significant development, on May 20, Levi Strauss entered into a definitive agreement to sell its Dockers brand to Authentic Brands Group. This move reflects the company’s strategy to streamline its portfolio and focus on its core offerings.
As of the latest trading session, shares of Levi Strauss saw a slight uptick of 1.9%, closing at $19.23 on Monday. This growth could indicate positive investor sentiment ahead of the earnings report.
Analyst Ratings and Predictions
Citi's Perspectives
Citigroup analyst Paul Lejuez maintained a Neutral rating for LEVI and adjusted the price target from $14 to $19 as of May 21. Lejuez has a commendable accuracy rate of 65%, indicating a reliable assessment as potential investors gather insights.
Telsey Advisory Group's Outlook
Telsey Advisory Group's Dana Telsey has observed favorable prospects for the company, maintaining an Outperform rating and raising the price target from $19 to $21 on May 15. Telsey’s potential growth outlook is underpinned by an accuracy rate of 60% from previous predictions.
Wells Fargo's Standpoint
Wells Fargo analyst Ike Boruchow is optimistic, keeping an Overweight rating and increasing the price target from $20 to $22, confirmed on May 14. With a solid accuracy rate of 71%, this rating may attract attention from bullish investors.
Evaluating Morgan Stanley's Insights
In contrast, Morgan Stanley analyst Alex Straton has taken a more cautious approach, maintaining an Equal-Weight rating while slightly reducing the price target from $17 to $16 as of April 9. Straton’s assessment carries an accuracy rate of 65%.
Stifel's Position
Lastly, Stifel analyst Drew Crum has kept a Buy rating but has adjusted the price target down from $25 to $20 as of April 8, maintaining an accuracy rate of 69%. This reflects a careful optimism regarding the company's future performance.
Final Thoughts for Investors
As the Q2 earnings report approaches, it's critical for potential investors to consider these analyst ratings. Understanding the perspectives and forecasts can help in making informed decisions regarding LEVI stock.
Frequently Asked Questions
What are the expected earnings for Levi Strauss this quarter?
Analysts expect Levi Strauss to report earnings of 13 cents per share for the upcoming quarter.
What is the significance of the Dockers sale?
The sale of Dockers to Authentic Brands Group aims to streamline Levi Strauss's portfolio and enhance focus on its core businesses.
How have shares of Levi Strauss performed recently?
Levi Strauss shares gained 1.9%, closing at $19.23, indicating a positive market reaction ahead of earnings.
What does the analyst community think about LEVI stock?
Analysts maintain varied views with ratings ranging from Neutral to Buy, showcasing a mix of optimism and caution about the stock's future.
How often do analysts update their ratings?
Analysts typically update their ratings and price targets following important company announcements or significant market changes.
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