These Analysts Revise Their Forecasts On Levi Strauss Following Q4 Results
Portfolio Pulse from Avi Kapoor
Levi Strauss & Co (NYSE:LEVI) reported Q4 earnings with revenue of $1.64 billion, slightly missing estimates, but earnings per share of 44 cents beat estimates by 1 cent. The company forecasts 1-3% revenue growth for FY 2024 with adjusted earnings below analyst expectations. Shares dropped 1.4% following the report. Telsey Advisory Group raised their price target, while Wells Fargo and JP Morgan lowered theirs.
January 26, 2024 | 4:58 pm
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Levi Strauss reported a slight revenue miss but beat EPS estimates in Q4. The company's FY 2024 revenue growth projection is modest and the adjusted earnings forecast is below expectations, leading to a 1.4% share price drop.
The revenue miss and lower earnings guidance for FY 2024 are likely to negatively impact investor sentiment in the short term, as reflected in the share price drop. Analysts' revised price targets also indicate a recalibration of expectations.
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