Research Analysts Offer Predictions for McDonald’s Co.’s Q1 2024 Earnings (NYSE:MCD)

McDonald’s Co. (NYSE:MCD) – Equities researchers at Zacks Research reduced their Q1 2024 earnings per share estimates for McDonald’s in a research note issued on Tuesday, April 16th. Zacks Research analyst H. Ray now forecasts that the fast-food giant will post earnings of $2.71 per share for the quarter, down from their prior forecast of $2.72. The consensus estimate for McDonald’s’ current full-year earnings is $12.35 per share. Zacks Research also issued estimates for McDonald’s’ Q4 2024 earnings at $3.04 EPS, Q1 2026 earnings at $3.30 EPS and FY2026 earnings at $14.91 EPS.

Other research analysts have also issued reports about the company. Morgan Stanley dropped their price target on McDonald’s from $327.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Bank of America boosted their target price on McDonald’s from $291.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Erste Group Bank restated a “hold” rating on shares of McDonald’s in a research note on Wednesday, April 3rd. Oppenheimer restated a “market perform” rating on shares of McDonald’s in a research note on Friday, January 5th. Finally, Stifel Nicolaus lowered their target price on McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.72.

McDonald’s Trading Up 1.7 %

NYSE:MCD opened at $269.95 on Wednesday. The firm has a market capitalization of $194.64 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 2.88 and a beta of 0.71. McDonald’s has a 1-year low of $245.73 and a 1-year high of $302.39. The business’s fifty day moving average price is $283.86 and its 200 day moving average price is $280.69.

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

Hedge Funds Weigh In On McDonald’s

Hedge funds have recently modified their holdings of the stock. Signature Resources Capital Management LLC bought a new position in McDonald’s in the 4th quarter valued at $31,000. Blue Bell Private Wealth Management LLC boosted its position in shares of McDonald’s by 51.9% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after purchasing an additional 42 shares during the last quarter. Spartan Planning & Wealth Management bought a new position in shares of McDonald’s in the 3rd quarter worth $33,000. Retirement Group LLC acquired a new stake in McDonald’s during the 4th quarter worth $37,000. Finally, Clear Investment Research LLC acquired a new stake in McDonald’s during the 4th quarter worth $38,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $1.67 dividend. The ex-dividend date of this dividend 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 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.