McDonald’s (MCD) Posts Quarterly Earnings, Hits Estimates
McDonald’s (MCD) announced its earnings results on Friday. The company reported $1.23 EPS for the quarter, meeting the consensus estimate of $1.23. The company’s revenue for the quarter was up 7.1% on a year-over-year basis.
A number of other analysts have also recently weighed in on MCD. Analysts at Argus downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. On a related note, analysts at Jefferies Group (NYSE: JEF) raised their price target on shares of McDonald’s from $95.00 to $99.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. Finally, analysts at Goldman Sachs (NYSE: GS) cut their price target on shares of McDonald’s from $114.00 to $110.00 in a research note to investors on Wednesday, April 4th.
Shares of McDonald’s (MCD) traded up 1.67% during mid-day trading on Friday, hitting $97.43. McDonald’s (MCD) has a one year low of $77.77 and a one year high of $102.22. The company has a market cap of $99.238 billion and a P/E ratio of 17.90.
McDonald’s Corporation franchises and operates McDonald’s restaurants in the global restaurant industry. These restaurants serve a varied, limited, value-priced menu in more than 100 countries around the world. All restaurants are operated either by it or by franchisees, including conventional franchisees under franchise arrangements, and foreign affiliated markets and developmental licensees under license agreements. The Company and its franchisees purchase food, packaging, equipment and other goods from various independent suppliers. It offers a range of products. Independently owned and operated distribution centers, approved by it, distribute products and supplies to McDonald’s restaurants. s menu includes hamburgers and cheeseburgers, Big Mac, Quarter Pounder with Cheese, Filet-O-Fish, several chicken sandwiches, Chicken McNuggets, Chicken Selects, Snack Wraps, french fries, salads, shakes, McFlurry desserts, sundaes, soft serve cones, pies and cookies.