Q2 2024 Earnings Forecast for McDonald’s Co. Issued By Zacks Research (NYSE:MCD)

McDonald’s Co. (NYSE:MCD) – Zacks Research lowered their Q2 2024 EPS estimates for shares of McDonald’s in a research note issued on Tuesday, April 16th. Zacks Research analyst H. Ray now expects that the fast-food giant will earn $3.17 per share for the quarter, down from their prior estimate of $3.22. The consensus estimate for McDonald’s’ current full-year earnings is $12.34 per share. Zacks Research also issued estimates for McDonald’s’ Q3 2024 earnings at $3.32 EPS, FY2024 earnings at $12.25 EPS, Q1 2025 earnings at $2.99 EPS, Q2 2025 earnings at $3.33 EPS, Q3 2025 earnings at $3.47 EPS, Q4 2025 earnings at $3.32 EPS and FY2025 earnings at $13.11 EPS.

A number of other analysts also recently issued reports on the stock. Morgan Stanley cut their price target on shares of McDonald’s from $327.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Erste Group Bank restated a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Stephens restated an “overweight” rating and set a $320.00 price target on shares of McDonald’s in a report on Monday, February 5th. BTIG Research downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Finally, Argus restated a “hold” rating on shares of McDonald’s in a report on Monday, March 25th. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $319.72.

McDonald’s Trading Up 1.7 %

MCD stock opened at $269.95 on Thursday. The firm has a 50-day moving average of $283.86 and a two-hundred day moving average of $280.69. The company has a market cap of $194.64 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 2.88 and a beta of 0.71. McDonald’s has a 12 month low of $245.73 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, February 5th. The fast-food giant reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.12. The company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.45 billion. McDonald’s had a net margin of 33.22% and a negative return on equity of 171.96%. McDonald’s’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.59 EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MCD. Vanguard Group Inc. boosted its holdings in McDonald’s by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after buying an additional 599,745 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in McDonald’s by 106,340.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,235,890 shares of the fast-food giant’s stock worth $5,069,234,000 after buying an additional 19,217,818 shares in the last quarter. Northern Trust Corp boosted its holdings in McDonald’s by 1.7% during the third quarter. Northern Trust Corp now owns 9,200,473 shares of the fast-food giant’s stock worth $2,423,773,000 after buying an additional 151,161 shares in the last quarter. Norges Bank purchased a new stake in McDonald’s during the fourth quarter worth about $2,684,899,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in McDonald’s by 15.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after buying an additional 987,099 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were 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 $5,140,168.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $1.67 per share. The ex-dividend date was Thursday, February 29th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.47%. McDonald’s’s dividend payout ratio (DPR) is 57.74%.

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.