Q2 2024 EPS Estimates for McDonald's Co. Cut by Wedbush (NYSE:MCD)

McDonald's Co. (NYSE:MCD - Free Report) - Analysts at Wedbush decreased their Q2 2024 earnings estimates for shares of McDonald's in a report issued on Friday, April 26th. Wedbush analyst N. Setyan now expects that the fast-food giant will post earnings per share of $3.15 for the quarter, down from their previous estimate of $3.18. Wedbush currently has a "Outperform" rating and a $300.00 target price on the stock. The consensus estimate for McDonald's' current full-year earnings is $12.34 per share. Wedbush also issued estimates for McDonald's' Q3 2024 earnings at $3.35 EPS, Q1 2025 earnings at $2.97 EPS, Q2 2025 earnings at $3.46 EPS, Q3 2025 earnings at $3.53 EPS, Q4 2025 earnings at $3.28 EPS and FY2025 earnings at $13.25 EPS.

McDonald's (NYSE:MCD - Get Free Report) last announced its earnings results on Monday, February 5th. The fast-food giant reported $2.95 EPS for the quarter, topping the consensus estimate 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 company had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $6.45 billion. During the same period last year, the company posted $2.59 earnings per share. The business's revenue for the quarter was up 8.1% on a year-over-year basis.

MCD has been the subject of a number of other reports. Bank of America increased their price target on shares of McDonald's from $291.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, January 29th. Oppenheimer reissued a "market perform" rating on shares of McDonald's in a research report on Friday, January 5th. Stifel Nicolaus reduced their price target on shares of McDonald's from $315.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, April 11th. Stephens reissued an "overweight" rating and issued a $320.00 price target on shares of McDonald's in a research report on Monday, February 5th. Finally, BTIG Research lowered shares of McDonald's from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 6th. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $318.41.

McDonald's Trading Up 0.2 %

Shares of MCD traded up $0.48 during midday trading on Monday, hitting $273.57. The stock had a trading volume of 3,184,201 shares, compared to its average volume of 3,269,845. McDonald's has a fifty-two week low of $245.73 and a fifty-two week high of $302.39. The business has a 50-day simple moving average of $281.68 and a two-hundred day simple moving average of $281.96. The firm has a market cap of $197.25 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71.

Institutional Investors Weigh In On McDonald's

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lodestone Wealth Management LLC raised its holdings in shares of McDonald's by 13.8% in the third quarter. Lodestone Wealth Management LLC now owns 1,464 shares of the fast-food giant's stock valued at $386,000 after buying an additional 178 shares during the last quarter. Brookstone Capital Management raised its holdings in McDonald's by 25.0% during the 3rd quarter. Brookstone Capital Management now owns 48,627 shares of the fast-food giant's stock worth $12,564,000 after purchasing an additional 9,737 shares during the last quarter. Sumitomo Life Insurance Co. raised its holdings in McDonald's by 4.1% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,539 shares of the fast-food giant's stock worth $4,620,000 after purchasing an additional 686 shares during the last quarter. Cavalier Investments LLC raised its holdings in McDonald's by 3.4% during the 3rd quarter. Cavalier Investments LLC now owns 7,341 shares of the fast-food giant's stock worth $1,934,000 after purchasing an additional 244 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA raised its holdings in McDonald's by 109.6% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 92,615 shares of the fast-food giant's stock worth $24,398,000 after purchasing an additional 48,428 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Insiders Place Their Bets

In other McDonald's news, insider Joseph M. Erlinger sold 1,098 shares of McDonald's stock in a transaction 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 sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the business's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business's 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 in the company, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company's stock.

McDonald's Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders 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 yield of 2.44%. McDonald's's dividend payout ratio 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.