Q2 2024 Earnings Estimate for McDonald’s Co. Issued By Wedbush (NYSE:MCD)

McDonald’s Co. (NYSE:MCD) – Analysts at Wedbush reduced their Q2 2024 EPS estimates for shares of McDonald’s in a research note issued to investors on Wednesday, May 1st. Wedbush analyst N. Setyan now expects that the fast-food giant will post earnings of $3.10 per share for the quarter, down from their prior forecast of $3.15. Wedbush has a “Outperform” rating and a $300.00 price objective on the stock. The consensus estimate for McDonald’s’ current full-year earnings is $12.25 per share. Wedbush also issued estimates for McDonald’s’ Q4 2024 earnings at $3.05 EPS, FY2024 earnings at $12.20 EPS, Q2 2025 earnings at $3.40 EPS, Q4 2025 earnings at $3.26 EPS and FY2025 earnings at $13.14 EPS.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. McDonald’s’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.63 EPS.

A number of other research analysts have also commented on the stock. StockNews.com lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. TD Cowen reissued a “buy” rating and set a $305.00 price objective on shares of McDonald’s in a report on Tuesday. KeyCorp cut their target price on McDonald’s from $315.00 to $310.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial lowered their target price on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, UBS Group dropped their price objective on McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $317.74.

McDonald’s Trading Down 1.1 %

MCD opened at $270.32 on Friday. McDonald’s has a 1-year low of $245.73 and a 1-year high of $302.39. The business has a 50 day moving average of $280.07 and a 200-day moving average of $282.21. The stock has a market capitalization of $194.90 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 3.02 and a beta of 0.71.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s in the first quarter valued at approximately $28,000. Signature Resources Capital Management LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at approximately $31,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of McDonald’s by 51.9% in the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after purchasing an additional 42 shares during the last quarter. Spartan Planning & Wealth Management acquired a new stake in shares of McDonald’s in the third quarter valued at approximately $33,000. Finally, Clear Investment Research LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at approximately $38,000. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the transaction, the insider now directly owns 18,075 shares in the company, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s dividend payout ratio is 56.71%.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.