Luckin Coffee (OTCMKTS:LKNCY) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Luckin Coffee (OTCMKTS:LKNCY) released its quarterly earnings results on Tuesday. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate 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%.

Luckin Coffee Stock Performance

Shares of Luckin Coffee stock opened at $31.20 on Tuesday. The business’s 50 day simple moving average is $33.68 and its 200 day simple moving average is $33.47. Luckin Coffee has a 52-week low of $27.22 and a 52-week high of $40.80. The firm has a market cap of $8.95 billion, a PE ratio of 18.57, a P/E/G ratio of 0.46 and a beta of -0.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LKNCY shares. BNP Paribas Exane upgraded shares of Luckin Coffee to an “outperform” rating and set a $48.00 price objective on the stock in a report on Tuesday, September 15th. Zacks Research lowered shares of Luckin Coffee from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Luckin Coffee currently has a consensus rating of “Buy” and an average price target of $46.87.

About Luckin Coffee

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.