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

McDonald’s Co. (NYSE:MCD) – Zacks Research reduced their Q2 2024 earnings per share (EPS) estimates for shares of 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 of $3.17 per share for the quarter, down from their previous forecast 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.

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

A number of other brokerages have also issued reports on MCD. StockNews.com lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Citigroup decreased their price objective on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research report on Tuesday. Royal Bank of Canada dropped their target price on McDonald’s from $340.00 to $335.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. Erste Group Bank reiterated a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $315.00 price objective on shares of McDonald’s in a research report on Tuesday, February 6th. Nine analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $319.72.

McDonald’s Stock Up 0.4 %

Shares of NYSE MCD opened at $270.98 on Thursday. McDonald’s has a 12-month low of $245.73 and a 12-month high of $302.39. The firm’s 50-day simple moving average is $283.44 and its 200 day simple moving average is $280.62. The company has a market cap of $195.38 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 2.88 and a beta of 0.71.

Institutional Trading of McDonald’s

A number of institutional investors have recently modified their holdings of MCD. Saxon Interests Inc. raised its position in McDonald’s by 6.9% in the 1st quarter. Saxon Interests Inc. now owns 3,399 shares of the fast-food giant’s stock valued at $958,000 after buying an additional 218 shares during the last quarter. Naviter Wealth LLC bought a new position in shares of McDonald’s during the 1st quarter worth approximately $1,364,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of McDonald’s in the first quarter valued at approximately $28,000. Synergy Asset Management LLC lifted its position in shares of McDonald’s by 40.1% in the first quarter. Synergy Asset Management LLC now owns 14,606 shares of the fast-food giant’s stock worth $4,118,000 after purchasing an additional 4,177 shares in the last quarter. Finally, Cullinan Associates Inc. lifted its position in shares of McDonald’s by 2.6% in the first quarter. Cullinan Associates Inc. now owns 89,522 shares of the fast-food giant’s stock worth $25,241,000 after purchasing an additional 2,246 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

McDonald’s Announces Dividend

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