Q2 2024 EPS Estimates for McDonald’s Co. (NYSE:MCD) Lowered by Zacks Research

McDonald’s Co. (NYSE:MCD) – Analysts at Zacks Research lowered their Q2 2024 EPS estimates for McDonald’s in a note issued to investors on Tuesday, April 16th. Zacks Research analyst H. Ray now anticipates that the fast-food giant will post earnings per share of $3.17 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.

MCD has been the subject of a number of other research reports. UBS Group decreased their price target on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Evercore ISI restated 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 price objective on McDonald’s from $340.00 to $335.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Citigroup reduced their price objective on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Bank of America raised their price objective on McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Nine research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $319.72.

McDonald’s Trading Up 1.7 %

MCD stock opened at $269.95 on Thursday. McDonald’s has a twelve month low of $245.73 and a twelve month high of $302.39. The company has a market capitalization of $194.64 billion, a P/E ratio of 23.33, a PEG ratio of 2.88 and a beta of 0.71. The firm has a 50 day simple moving average of $283.86 and a 200-day simple moving average of $280.69.

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

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid 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 dividend payout ratio is currently 57.74%.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’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 sale, 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 through the SEC website. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On McDonald’s

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Shulman DeMeo Asset Management LLC grew its holdings in McDonald’s by 12.2% during the fourth quarter. Shulman DeMeo Asset Management LLC now owns 1,051 shares of the fast-food giant’s stock worth $312,000 after acquiring an additional 114 shares during the period. Beaumont Financial Advisors LLC grew its holdings in McDonald’s by 0.6% during the third quarter. Beaumont Financial Advisors LLC now owns 80,441 shares of the fast-food giant’s stock worth $21,191,000 after acquiring an additional 450 shares during the period. First National Bank of Mount Dora Trust Investment Services grew its holdings in McDonald’s by 2.8% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,025 shares of the fast-food giant’s stock worth $3,269,000 after acquiring an additional 301 shares during the period. Mengis Capital Management Inc. grew its holdings in McDonald’s by 7.9% during the third quarter. Mengis Capital Management Inc. now owns 4,522 shares of the fast-food giant’s stock worth $1,191,000 after acquiring an additional 331 shares during the period. Finally, Garden State Investment Advisory Services LLC grew its holdings in McDonald’s by 7.7% during the third quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the fast-food giant’s stock worth $323,000 after acquiring an additional 88 shares during the period. 70.29% of the stock is currently owned by institutional investors.

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.