McDonald’s Co. Forecasted to Earn Q4 2024 Earnings of $3.08 Per Share (NYSE:MCD)
McDonald’s Co. (NYSE:MCD – Free Report) – Analysts at Wedbush increased their Q4 2024 EPS estimates for McDonald’s in a research note issued to investors on Thursday, December 7th. Wedbush analyst N. Setyan now expects that the fast-food giant will post earnings of $3.08 per share for the quarter, up from their previous forecast of $3.06. Wedbush has a “Outperform” rating and a $310.00 price objective on the stock. The consensus estimate for McDonald’s’ current full-year earnings is $11.76 per share.
MCD has been the subject of several other reports. KeyCorp cut their target price on shares of McDonald’s from $330.00 to $310.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Stifel Nicolaus increased their price objective on shares of McDonald’s from $270.00 to $285.00 and gave the company a “hold” rating in a research note on Thursday. Truist Financial dropped their price objective on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, September 20th. Guggenheim dropped their price objective on shares of McDonald’s from $330.00 to $285.00 and set a “buy” rating for the company in a research note on Thursday, October 19th. Finally, BMO Capital Markets increased their price objective on shares of McDonald’s from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $316.72.
Get Our Latest Stock Analysis on MCD
McDonald’s Trading Down 0.4 %
NYSE MCD opened at $285.53 on Monday. The company has a market cap of $207.11 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.69 and a beta of 0.70. McDonald’s has a 1 year low of $245.73 and a 1 year high of $299.35. The company has a fifty day simple moving average of $266.84 and a 200 day simple moving average of $279.57.
McDonald’s (NYSE:MCD – Get Free Report) last posted its earnings results on Monday, October 30th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.00 by $0.19. The company had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.56 billion. McDonald’s had a net margin of 33.31% and a negative return on equity of 157.19%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 earnings per share.
Institutional Trading of McDonald’s
Hedge funds have recently bought and sold shares of the stock. Dfpg Investments LLC raised its holdings in shares of McDonald’s by 10.9% in the second quarter. Dfpg Investments LLC now owns 10,807 shares of the fast-food giant’s stock valued at $3,179,000 after purchasing an additional 1,062 shares during the last quarter. Fortitude Advisory Group L.L.C. raised its holdings in shares of McDonald’s by 5.9% in the second quarter. Fortitude Advisory Group L.L.C. now owns 1,153 shares of the fast-food giant’s stock valued at $344,000 after purchasing an additional 64 shares during the last quarter. Register Financial Advisors LLC raised its holdings in shares of McDonald’s by 46.4% in the second quarter. Register Financial Advisors LLC now owns 947 shares of the fast-food giant’s stock valued at $282,000 after purchasing an additional 300 shares during the last quarter. Northwest Bancshares Inc. raised its holdings in shares of McDonald’s by 1.8% in the second quarter. Northwest Bancshares Inc. now owns 4,056 shares of the fast-food giant’s stock valued at $1,210,000 after purchasing an additional 70 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of McDonald’s by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 454,405 shares of the fast-food giant’s stock valued at $135,599,000 after buying an additional 2,254 shares in the last quarter. 67.60% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $256.61, for a total value of $1,151,409.07. Following the transaction, the insider now owns 9,534 shares of the company’s stock, valued at approximately $2,446,519.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Joseph M. Erlinger sold 4,487 shares of McDonald’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $256.61, for a total transaction of $1,151,409.07. Following the transaction, the insider now owns 9,534 shares of the company’s stock, valued at approximately $2,446,519.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 5,606 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $280.00, for a total transaction of $1,569,680.00. Following the sale, the chief executive officer now owns 29,031 shares in the company, valued at $8,128,680. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,755 shares of company stock valued at $5,380,457. 0.27% of the stock is currently owned by insiders.
McDonald’s Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from McDonald’s’s previous quarterly dividend of $1.52. McDonald’s’s dividend payout ratio (DPR) is 58.80%.
About McDonald’s (Get Free Report)
McDonald’s Corporation operates and franchises McDonald’s restaurants in the United States and internationally. The company’s restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.
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