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

McDonald’s Co. (NYSE:MCD) – Analysts at Wedbush lowered their Q2 2024 earnings per share estimates for McDonald’s in a note issued to investors on Friday, April 26th. Wedbush analyst N. Setyan now forecasts that the fast-food giant will post earnings per share of $3.15 for the quarter, down from their previous forecast of $3.18. Wedbush currently has a “Outperform” rating and a $300.00 price target 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.

A number of other research analysts have also weighed in on the company. TD Cowen reaffirmed a “buy” rating and set a $325.00 price objective on shares of McDonald’s in a report on Wednesday, April 10th. Erste Group Bank reiterated a “hold” rating on shares of McDonald’s in a research note on Wednesday, April 3rd. Truist Financial decreased their price objective on shares of McDonald’s from $345.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Barclays reduced their price target on shares of McDonald’s from $343.00 to $340.00 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. Finally, BTIG Research cut McDonald’s from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $318.41.

McDonald’s Trading Down 0.9 %

NYSE MCD opened at $273.09 on Monday. The business’s 50 day moving average is $281.68 and its two-hundred day moving average is $281.96. The stock has a market capitalization of $196.90 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.98 and a beta of 0.71. McDonald’s has a 12-month low of $245.73 and a 12-month high of $302.39.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Weatherly Asset Management L. P. raised its position in McDonald’s by 0.9% in the first quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after purchasing an additional 38 shares during the period. Nadler Financial Group Inc. grew its stake in shares of McDonald’s by 86.5% in the first quarter. Nadler Financial Group Inc. now owns 8,149 shares of the fast-food giant’s stock valued at $2,298,000 after buying an additional 3,780 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co LLC raised its holdings in shares of McDonald’s by 2.0% during the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 4,951 shares of the fast-food giant’s stock valued at $1,396,000 after buying an additional 95 shares during the period. Conning Inc. lifted its position in McDonald’s by 11.1% during the 1st quarter. Conning Inc. now owns 124,524 shares of the fast-food giant’s stock worth $35,039,000 after acquiring an additional 12,466 shares in the last quarter. Finally, Finer Wealth Management Inc. boosted its holdings in McDonald’s by 9.8% in the 1st quarter. Finer Wealth Management Inc. now owns 8,003 shares of the fast-food giant’s stock worth $2,257,000 after acquiring an additional 715 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the transaction, the insider now directly owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the sale, the insider now directly owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given 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 2.45%. McDonald’s’s dividend payout ratio (DPR) is presently 57.74%.

About McDonald’s

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.