McDonald's Co. Rating Lowered to Neutral at Robert W. Baird (MCD)
McDonald's Co. (NYSE:MCD) was downgraded by equities research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $98.00 price target on the stock. Robert W. Baird’s target price would suggest a potential upside of 1.80% from the company’s current price. The analysts noted that the move was a valuation call.
Shares of McDonald's Co. (NYSE:MCD) traded down 1.23% on Wednesday, hitting $95.09. The stock had a trading volume of 4,169,202 shares. McDonald's Co. has a 52-week low of $92.22 and a 52-week high of $103.78. The stock’s 50-day moving average is $100.7 and its 200-day moving average is $98.49. The company has a market cap of $93.989 billion and a price-to-earnings ratio of 17.50.
McDonald's Co. (NYSE:MCD) last announced its earnings results on Tuesday, July 22nd. The company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by $0.04. The company had revenue of $7.18 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, analysts predict that McDonald's Co. will post $5.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, August 28th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Buckingham Research cut their price target on shares of McDonald's Co. to $98.00 in a research note on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Janney Montgomery Scott reiterated a “fair value” rating on shares of McDonald's Co. in a research note on Wednesday, July 16th. They now have a $96.00 price target on the stock. Finally, analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of McDonald's Co. in a research note on Monday, June 9th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $104.63.
McDonald’s Corporation franchises and operates McDonald’s restaurants in the global restaurant industry.
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