McDonald's Co. (NYSE:MCD) – Equities researchers at SunTrust Banks lowered their Q1 2018 earnings estimates for shares of McDonald's in a report issued on Wednesday. SunTrust Banks analyst J. Bartlett now anticipates that the fast-food giant will post earnings per share of $1.64 for the quarter, down from their previous estimate of $1.81. SunTrust Banks has a “Buy” rating and a $187.00 price target on the stock. SunTrust Banks also issued estimates for McDonald's’ Q2 2018 earnings at $1.97 EPS, Q3 2018 earnings at $2.11 EPS, Q4 2018 earnings at $2.01 EPS, FY2018 earnings at $7.72 EPS and FY2019 earnings at $8.12 EPS.
Several other analysts also recently weighed in on the company. Mizuho reiterated a “buy” rating and issued a $173.00 price objective (up previously from $170.00) on shares of McDonald's in a research report on Wednesday, September 13th. Jefferies Group upgraded McDonald's from a “hold” rating to a “buy” rating and boosted their price objective for the company from $150.00 to $200.00 in a research report on Tuesday, December 5th. Goldman Sachs Group set a $173.00 price objective on McDonald's and gave the company a “buy” rating in a research report on Wednesday, November 8th. Deutsche Bank set a $185.00 price objective on McDonald's and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $175.00 price objective on shares of McDonald's in a research report on Friday, September 8th. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. McDonald's currently has an average rating of “Buy” and a consensus price target of $177.52.
McDonald's (NYSE:MCD) last released its earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.01. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.75 billion. McDonald's had a negative return on equity of 216.45% and a net margin of 24.19%. McDonald's’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its position in shares of McDonald's by 1.0% during the second quarter. Canada Pension Plan Investment Board now owns 449,237 shares of the fast-food giant’s stock valued at $68,805,000 after buying an additional 4,300 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of McDonald's by 10.6% during the second quarter. Teacher Retirement System of Texas now owns 467,212 shares of the fast-food giant’s stock valued at $71,558,000 after buying an additional 44,899 shares during the last quarter. Tredje AP fonden boosted its position in shares of McDonald's by 26.7% during the second quarter. Tredje AP fonden now owns 120,490 shares of the fast-food giant’s stock valued at $18,454,000 after buying an additional 25,380 shares during the last quarter. Beaton Management Co. Inc. purchased a new stake in shares of McDonald's during the second quarter valued at $555,000. Finally, Buckingham Asset Management LLC boosted its position in shares of McDonald's by 157.5% during the second quarter. Buckingham Asset Management LLC now owns 18,973 shares of the fast-food giant’s stock valued at $2,906,000 after buying an additional 11,604 shares during the last quarter. 67.27% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Stephen Easterbrook sold 171,577 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $168.32, for a total value of $28,879,840.64. Following the sale, the insider now directly owns 49,778 shares of the company’s stock, valued at $8,378,632.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP James R. Sappington sold 8,046 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $165.00, for a total value of $1,327,590.00. Following the completion of the sale, the vice president now directly owns 15,739 shares in the company, valued at $2,596,935. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.
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McDonald's Company Profile
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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