Luckin Coffee (OTCMKTS:LKNCY) Issues Quarterly Earnings Results

Luckin Coffee (OTCMKTS:LKNCY) issued its earnings results on Tuesday. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06, Zacks reports. Luckin Coffee had a net margin of 6.78% and a return on equity of 24.91%. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.72 billion.

Luckin Coffee Price Performance

LKNCY stock traded up $1.45 during mid-day trading on Wednesday, hitting $34.35. 3,283,758 shares of the stock were exchanged, compared to its average volume of 1,411,564. The business has a fifty day moving average price of $33.64 and a 200 day moving average price of $33.46. Luckin Coffee has a 12 month low of $27.22 and a 12 month high of $40.80. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 0.44 and a beta of -0.32.

Analyst Ratings Changes

Several research analysts have recently weighed in on LKNCY shares. BNP Paribas Exane raised shares of Luckin Coffee to an “outperform” rating and set a $48.00 price target on the stock in a report on Tuesday, September 15th. Zacks Research lowered Luckin Coffee from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Luckin Coffee currently has a consensus rating of “Buy” and a consensus price target of $46.87.

Luckin Coffee Company Profile

Luckin Coffee Inc is a China-based coffeehouse operator that sells freshly prepared coffee, tea-based beverages, fruit drinks and light food. Its menu includes espresso-based drinks, cold beverages, snacks and seasonal products, with orders placed primarily through its mobile application and fulfilled through company-operated locations and delivery or pickup services.

Founded in 2017, Luckin Coffee built its business around a technology-focused, convenience-oriented model that emphasizes mobile ordering, digitally managed stores and delivery.