Luckin Coffee (NYSE:LK) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Luckin Coffee (NYSE:LK) released its quarterly earnings results on Wednesday. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.04), Briefing.com reports. The company had revenue of $132.40 million for the quarter, compared to analyst estimates of $133.15 million. The company’s revenue was down 85.4% on a year-over-year basis. Luckin Coffee updated its Q3 2019 guidance to EPS.

Luckin Coffee stock traded up $0.21 on Thursday, hitting $20.65. 131,672 shares of the stock traded hands, compared to its average volume of 4,948,749. The firm has a fifty day moving average of $21.73. Luckin Coffee has a 1 year low of $13.71 and a 1 year high of $27.12.

Several research firms recently weighed in on LK. Needham & Company LLC began coverage on shares of Luckin Coffee in a report on Tuesday, June 11th. They issued a “buy” rating and a $27.00 price target on the stock. KeyCorp began coverage on shares of Luckin Coffee in a report on Tuesday, June 11th. They issued an “overweight” rating and a $22.00 price target on the stock. Morgan Stanley began coverage on shares of Luckin Coffee in a report on Tuesday, June 11th. They issued an “equal weight” rating and a $21.00 price target on the stock. Credit Suisse Group initiated coverage on shares of Luckin Coffee in a report on Tuesday, June 11th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Zephirin Group initiated coverage on Luckin Coffee in a research report on Friday, May 17th. They set a “buy” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $25.20.

About Luckin Coffee

Luckin Coffee Inc engages in the retail sale of freshly brewed drinks, and pre-made food and beverage items in the People's Republic of China. It offers freshly brewed drinks, including freshly brewed coffee and non-coffee drinks; and food and beverage items, such as light meals. The company operates pick-up stores, relax stores, and delivery kitchens under the Luckin brand, as well as Luckin mobile app, Weixin mini-program, and other third-party platforms that cover the customer purchase process.

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