McDonald’s Corporation (MCD) Expected to Post Quarterly Sales of $5.75 Billion
Equities research analysts forecast that McDonald’s Corporation (NYSE:MCD) will post sales of $5.75 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for McDonald’s Corporation’s earnings. The lowest sales estimate is $5.08 billion and the highest is $6.38 billion. McDonald’s Corporation reported sales of $6.42 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 10.4%. The company is expected to report its next quarterly earnings results on Friday, October 20th.
According to Zacks, analysts expect that McDonald’s Corporation will report full-year sales of $5.75 billion for the current year, with estimates ranging from $21.60 billion to $23.53 billion. For the next fiscal year, analysts forecast that the company will report sales of $19.75 billion per share, with estimates ranging from $18.21 billion to $21.52 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow McDonald’s Corporation.
McDonald’s Corporation (NYSE:MCD) last issued its quarterly earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.08. McDonald’s Corporation had a negative return on equity of 266.50% and a net margin of 21.00%. The firm had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.96 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year.
Several analysts recently commented on the company. Sanford C. Bernstein raised McDonald’s Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $129.00 to $160.00 in a report on Tuesday, April 18th. UBS AG set a $143.00 price objective on McDonald’s Corporation and gave the stock a “neutral” rating in a report on Wednesday, April 26th. BMO Capital Markets reaffirmed a “buy” rating and issued a $159.00 price objective on shares of McDonald’s Corporation in a report on Thursday, April 27th. Argus raised McDonald’s Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $140.84 to $158.00 in a report on Thursday, April 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $140.00 price objective on shares of McDonald’s Corporation in a report on Wednesday, July 19th. Thirteen analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $162.16.
McDonald’s Corporation (NYSE:MCD) opened at 153.82 on Monday. The stock’s 50 day moving average price is $154.15 and its 200-day moving average price is $139.07. The stock has a market cap of $125.37 billion, a PE ratio of 25.18 and a beta of 0.70. McDonald’s Corporation has a 12 month low of $110.33 and a 12 month high of $159.98.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.44%. The ex-dividend date is Wednesday, August 30th. McDonald’s Corporation’s dividend payout ratio is currently 61.54%.
In other McDonald’s Corporation news, insider Douglas M. Goare sold 17,286 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total transaction of $2,739,831.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin M. Ozan sold 25,322 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $158.50, for a total value of $4,013,537.00. Following the sale, the chief financial officer now directly owns 24,039 shares in the company, valued at $3,810,181.50. The disclosure for this sale can be found here. Insiders have sold a total of 54,363 shares of company stock worth $8,615,125 over the last ninety days. 0.24% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of MCD. Independent Advisor Alliance acquired a new stake in McDonald’s Corporation during the fourth quarter worth approximately $633,000. Archford Capital Strategies LLC boosted its stake in McDonald’s Corporation by 2.0% in the fourth quarter. Archford Capital Strategies LLC now owns 19,323 shares of the fast-food giant’s stock worth $2,351,000 after buying an additional 373 shares during the period. LeJeune Puetz Investment Counsel LLC acquired a new stake in McDonald’s Corporation during the fourth quarter worth approximately $1,981,000. IFM Investors Pty Ltd acquired a new stake in McDonald’s Corporation during the fourth quarter worth approximately $1,365,000. Finally, Pittenger & Anderson Inc. boosted its stake in McDonald’s Corporation by 1.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 24,423 shares of the fast-food giant’s stock worth $2,973,000 after buying an additional 413 shares during the period. Hedge funds and other institutional investors own 67.55% of the company’s stock.
About McDonald’s Corporation
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of 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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