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

McDonald’s Co. (NYSE:MCD) – Investment analysts at Wedbush dropped their Q2 2024 EPS estimates for McDonald’s in a report released on Wednesday, May 1st. Wedbush analyst N. Setyan now expects that the fast-food giant will earn $3.10 per share for the quarter, down from their prior estimate of $3.15. Wedbush currently has a “Outperform” rating and a $300.00 price target on the stock. The consensus estimate for McDonald’s’ current full-year earnings is $12.18 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.

Other research analysts have also issued research reports about the company. Bank of America lifted their price target on McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. decreased their price target on McDonald’s from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday. Evercore ISI reaffirmed an “outperform” rating and set a $330.00 price objective on shares of McDonald’s in a research note on Wednesday, March 27th. Royal Bank of Canada reduced their target price on shares of McDonald’s from $340.00 to $335.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Finally, Erste Group Bank restated a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $317.74.

McDonald’s Stock Down 1.1 %

McDonald’s stock opened at $270.32 on Friday. The company’s 50-day moving average price is $279.53 and its 200-day moving average price is $282.35. The company has a market cap of $194.90 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.71. McDonald’s has a twelve month low of $245.73 and a twelve month high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly 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). McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same quarter in the prior year, the firm posted $2.63 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s during the 1st quarter valued at about $28,000. Signature Resources Capital Management LLC purchased a new position in McDonald’s during the fourth quarter valued at approximately $31,000. Blue Bell Private Wealth Management LLC lifted its holdings in 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 acquiring an additional 42 shares during the period. Spartan Planning & Wealth Management purchased a new position in McDonald’s in the third quarter valued at $33,000. Finally, Clear Investment Research LLC acquired a new position in shares of McDonald’s in the fourth quarter worth about $38,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’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 in the company, valued at approximately $4,696,517.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

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 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 29th. McDonald’s’s payout ratio is presently 56.71%.

About McDonald’s

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.