Credit Suisse Group Raises McDonald’s (NYSE:MCD) Price Target to $298.00

McDonald’s (NYSE:MCD – Get Rating) had its target price boosted by equities research analysts at Credit Suisse Group from $292.00 to $298.00 in a report released on Wednesday, The Fly reports. Credit Suisse Group’s price target would indicate a potential upside of 10.55% from the company’s current price.

MCD has been the topic of several other research reports. Guggenheim reduced their target price on shares of McDonald’s to $280.00 in a report on Thursday, October 27th. StockNews.com raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Monday, January 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of McDonald’s from $262.00 to $263.00 in a report on Thursday, January 5th. Barclays increased their price target on shares of McDonald’s from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, January 5th. Finally, Citigroup increased their price target on shares of McDonald’s from $265.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, December 1st. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $289.19.

McDonald’s Stock Performance

Shares of MCD opened at $269.56 on Wednesday. The company’s 50-day simple moving average is $269.69 and its 200-day simple moving average is $260.95. The stock has a market capitalization of $197.43 billion, a PE ratio of 33.95, a P/E/G ratio of 3.14 and a beta of 0.63. McDonald’s has a 1 year low of $217.68 and a 1 year high of $302.00.

McDonald’s (NYSE:MCD – Get Rating) last issued its earnings results on Thursday, October 27th. The fast-food giant reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. McDonald’s had a net margin of 25.42% and a negative return on equity of 123.40%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.76 earnings per share. On average, sell-side analysts predict that McDonald’s will post 9.93 earnings per share for the current year.

Hedge Funds Weigh In On McDonald’s

Hedge funds and other institutional investors have recently bought and sold shares of the company. JDM Financial Group LLC purchased a new position in McDonald’s in the 4th quarter valued at $26,000. Piershale Financial Group Inc. acquired a new stake in McDonald’s in the fourth quarter valued at $26,000. West Financial Advisors LLC lifted its holdings in McDonald’s by 520.0% in the third quarter. West Financial Advisors LLC now owns 124 shares of the fast-food giant’s stock valued at $29,000 after acquiring an additional 104 shares during the period. Global Wealth Strategies & Associates acquired a new stake in McDonald’s in the fourth quarter valued at $35,000. Finally, Legend Financial Advisors Inc. acquired a new stake in McDonald’s in the third quarter valued at $33,000. 66.86% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Company Profile

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McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.