Why Levi Strauss and Company Shares Are Trading Lower Thursday
Portfolio Pulse from Dylan Berman
Levi Strauss & Co. (NYSE:LEVI) shares are trading lower after the company announced mixed quarterly results and issued soft 2024 fiscal-year EPS guidance. Despite beating EPS estimates, the company missed sales expectations and provided lower-than-expected EPS guidance for the next fiscal year. Analysts have adjusted their price targets accordingly.
June 27, 2024 | 3:51 pm
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Levi Strauss & Co. shares are down 16% after mixed Q2 results and soft 2024 EPS guidance. The company beat EPS estimates but missed sales expectations and provided lower-than-expected EPS guidance for the next fiscal year. Analysts have adjusted their price targets.
The stock price is reacting negatively to the mixed quarterly results and the lower-than-expected EPS guidance for the next fiscal year. Despite beating EPS estimates, the miss on sales and the soft guidance have led to a significant drop in the stock price. Analysts' adjustments to price targets further reflect the cautious outlook.
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