Brokerages predict that McDonald’s Corporation (NYSE:MCD) will report $5.73 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for McDonald’s Corporation’s earnings, with estimates ranging from $5.08 billion to $6.38 billion. McDonald’s Corporation posted sales of $6.42 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 10.7%. The business is expected to announce its next earnings results on Friday, October 20th.
On average, analysts expect that McDonald’s Corporation will report full year sales of $5.73 billion for the current year, with estimates ranging from $21.60 billion to $23.53 billion. For the next fiscal year, analysts anticipate that the business 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 averages are a mean average based on a survey of research firms that follow McDonald’s Corporation.
McDonald’s Corporation (NYSE:MCD) last announced its quarterly earnings results on Tuesday, July 25th. The fast-food giant reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.08. The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.96 billion. McDonald’s Corporation had a negative return on equity of 264.89% and a net margin of 21.00%. McDonald’s Corporation’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 earnings per share.
Several equities analysts recently commented on the stock. Nomura set a $172.00 price target on shares of McDonald’s Corporation and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $175.00 price target (up previously from $165.00) on shares of McDonald’s Corporation in a research report on Monday, June 26th. Royal Bank Of Canada set a $170.00 price target on shares of McDonald’s Corporation and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) set a $174.00 price target on shares of McDonald’s Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Mizuho assumed coverage on shares of McDonald’s Corporation in a research report on Thursday, June 8th. They set a “buy” rating and a $168.00 price target for the company. Twelve investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. McDonald’s Corporation presently has an average rating of “Buy” and a consensus price target of $162.16.
In other news, CFO Kevin M. Ozan sold 25,322 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $158.50, for a total value of $4,013,537.00. Following the transaction, the chief financial officer now directly owns 24,039 shares in the company, valued at approximately $3,810,181.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Ogden Fairhurst sold 4,782 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $157.05, for a total transaction of $751,013.10. Following the completion of the transaction, the executive vice president now owns 6,954 shares in the company, valued at $1,092,125.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,938 shares of company stock worth $11,033,009. Insiders own 0.24% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its stake in McDonald’s Corporation by 0.7% in the second quarter. Proficio Capital Partners LLC now owns 745 shares of the fast-food giant’s stock worth $117,000 after buying an additional 5 shares during the period. AlphaMark Advisors LLC boosted its stake in McDonald’s Corporation by 0.4% in the second quarter. AlphaMark Advisors LLC now owns 1,288 shares of the fast-food giant’s stock worth $197,000 after buying an additional 5 shares during the period. Diversified Trust Co boosted its stake in McDonald’s Corporation by 0.3% in the first quarter. Diversified Trust Co now owns 1,986 shares of the fast-food giant’s stock worth $257,000 after buying an additional 6 shares during the period. Highland Private Wealth Management boosted its stake in McDonald’s Corporation by 0.3% in the second quarter. Highland Private Wealth Management now owns 2,182 shares of the fast-food giant’s stock worth $335,000 after buying an additional 6 shares during the period. Finally, Winch Advisory Services LLC boosted its stake in McDonald’s Corporation by 0.4% in the second quarter. Winch Advisory Services LLC now owns 1,598 shares of the fast-food giant’s stock worth $245,000 after buying an additional 7 shares during the period. Institutional investors own 68.20% of the company’s stock.
Shares of McDonald’s Corporation (NYSE MCD) traded up 0.26% during mid-day trading on Friday, hitting $158.82. The company had a trading volume of 2,019,582 shares. McDonald’s Corporation has a 52-week low of $110.33 and a 52-week high of $159.98. The firm has a 50-day moving average price of $156.15 and a 200 day moving average price of $143.15. The firm has a market capitalization of $128.64 billion, a price-to-earnings ratio of 26.00 and a beta of 0.70.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 1st will be given a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.37%. McDonald’s Corporation’s payout ratio is currently 61.54%.
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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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