McDonald’s Corp. (MCD) to Post FY2017 Earnings of $5.93 Per Share, Oppenheimer Holdings Forecasts
McDonald’s Corp. (NYSE:MCD) – Equities research analysts at Oppenheimer Holdings reduced their FY2017 earnings per share (EPS) estimates for McDonald’s Corp. in a report issued on Monday. Oppenheimer Holdings analyst B. Bittner now forecasts that the firm will post earnings per share of $5.93 for the year, down from their previous forecast of $5.97.
McDonald’s Corp. (NYSE:MCD) last issued its quarterly earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. McDonald’s Corp. had a net margin of 18.73% and a return on equity of 97.56%. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter last year, the company posted $1.26 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year.
A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Co. reiterated a “market perform” rating on shares of McDonald’s Corp. in a research report on Tuesday. Vetr upgraded shares of McDonald’s Corp. from a “hold” rating to a “strong-buy” rating and set a $128.31 target price for the company in a research report on Monday. Nomura set a $122.00 price target on shares of McDonald’s Corp. and gave the company a “neutral” rating in a report on Monday. Telsey Advisory Group assumed coverage on shares of McDonald’s Corp. in a report on Monday, October 10th. They set an “outperform” rating and a $130.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of McDonald’s Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. McDonald’s Corp. presently has an average rating of “Hold” and an average price target of $126.27.
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Shares of McDonald’s Corp. (NYSE:MCD) traded down 0.6691% during trading on Tuesday, hitting $111.6579. 3,249,004 shares of the stock traded hands. The firm has a 50 day moving average price of $115.30 and a 200-day moving average price of $121.25. The company has a market cap of $95.28 billion, a PE ratio of 21.3210 and a beta of 0.61. McDonald’s Corp. has a one year low of $102.08 and a one year high of $131.96.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $3.76 dividend on an annualized basis and a yield of 3.34%. This is a boost from McDonald’s Corp.’s previous quarterly dividend of $0.89. McDonald’s Corp.’s payout ratio is currently 68.59%.
In related news, Chairman Andrew J. Mckenna sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $118.28, for a total transaction of $8,279,600.00. Following the completion of the transaction, the chairman now owns 108,841 shares in the company, valued at $12,873,713.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.28% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of MCD. BKD Wealth Advisors LLC boosted its position in McDonald’s Corp. by 2.6% in the third quarter. BKD Wealth Advisors LLC now owns 5,126 shares of the fast-food giant’s stock valued at $591,000 after buying an additional 129 shares during the period. Evanson Asset Management LLC boosted its position in McDonald’s Corp. by 1.6% in the third quarter. Evanson Asset Management LLC now owns 4,239 shares of the fast-food giant’s stock valued at $489,000 after buying an additional 65 shares during the period. CWM LLC boosted its position in McDonald’s Corp. by 32.0% in the third quarter. CWM LLC now owns 5,394 shares of the fast-food giant’s stock valued at $622,000 after buying an additional 1,308 shares during the period. Eastern Bank boosted its position in McDonald’s Corp. by 1.7% in the third quarter. Eastern Bank now owns 12,354 shares of the fast-food giant’s stock valued at $1,425,000 after buying an additional 204 shares during the period. Finally, Koshinski Asset Management Inc. boosted its position in McDonald’s Corp. by 5.1% in the third quarter. Koshinski Asset Management Inc. now owns 7,060 shares of the fast-food giant’s stock valued at $814,000 after buying an additional 340 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.
McDonald’s Corp. Company Profile
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally-relevant menu of quality food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets and Foundational Markets and Corporate.
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