McDonald

McDonald’s (MCD) Q4 results indicated a soft start to the year, with a somewhat “cautious tone” seen weighing on its shares, RBC Capital Markets said in a Monday note. “Near-term, we see continued focus on domestic trends as the likely driver of MCD share performance, particularly in a more value-conscious operating environment,” said RBC analysts Christopher Carril and Khadijah Gibson. “Longer-term, we continue to see MCD as well-positioned across areas of increasing focus, including loyalty, menu and digital.” Looking ahead to 2024, the analysts said they adjusted estimates modestly lower, with EPS to $12.44 from $12.66, but adding that there could be potential earnings upside from easing margin pressures. RBC cut its price target to $335 from $340 while retaining its outperform rating.

Baird analyst David Tarantino reiterates McDonald’s (NYSE:MCD) with a Outperform and maintains $315 price target.

Wedbush analyst Nick Setyan reiterates McDonald’s(NYSE:MCD) with a Outperform and maintains $330 price target.

The following is a summary of the McDonald’s Corporation (MCD) Q4 2023 Earnings Call Transcript: Financial Performance: McDonald’s Corporation reported 2023 global comp sales growth of 9% and comp guest count performance of nearly 3%, maintaining market leadership in most significant markets. Q4 comp sales performance exceeded 4% in both the U.S. and IOM segments, and over 3% globally, despite Middle East conflicts impacting specific segments. Q4 adjusted earnings per share were $2.95, an 11% increase in constant currencies from the previous year, excluding a nearly $140 million charge for impaired software write-offs and growth strategy costs. Full year adjusted operation margin was just over 47%, producing $14 billion in restaurant margin, a rise of around 10% in constant currency. The corporation invested about $2.4 billion in capital expenditure, with over half dedicated to new unit development, and a free cash flow conversion nearing the 90% range. Business Progress: McDonald’s

McDonald’s (NYSE:MCD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/05/2024 11.86% Stephens & Co. → $320 Reiterates Overweight → Overweight 01/05/2024 — Oppenheimer Downgrades Outperform → Perform 01/04/2024 12.56% Stifel $285 → $322 Maintains Hold 12/20/2023 10.81% HSBC → $317 Initiates Coverage On → Buy 12/12/2023 18.85% Truist Securities $335 → $340 Maintains Buy 12/11/2023 4.52% Piper Sandler $273 → $299 Maintains Neutral 12/07/2023 -0.38% Stifel $270 → $285 Maintains Hold 12/07/2023 10.11% RBC Capital → $315 Reiterates Outperform → Outperform 12/07/2023 17.1% BMO Capital $325 → $335 Maintains Outperform 12/07/2023 13.6% TD Cowen $300 → $325 Maintains Outperform 12/01/2023 10.11% Oppenheimer → $315 Reiterates Outperform → Outperform 11/30/2023 8.36% Citigroup $280 → $310 Maintains Neutral 10/31/2023 -2.82% JP Morgan $270 → $278 Maintains Overweight 10/31/2023 10.11% RBC Capital → $315 Reiterates Outperform → Outperform 10/31/2023 13.6% BMO Capital $340 →

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target to $310 from $335, 25.2x our 2024 EPS, slightly below MCD’s five-year average forward P/E of 25.6x. We lower our 2024 EPS estimate to $12.30 from $12.51 and initiate 2025’s at $13.53. MCD posted Q4 adj-EPS of $2.95, $0.12 above consensus. Revenue of $6,406M (+8.1% Y/Y) was $47M below consensus. Adj-operating income grew 13.8% Y/Y to $2,940M vs. the $2,916M consensus, with margin at 45.9%. Same-store sales rose 3.4% vs. 4.6%, mainly due to higher pricing (high-single-digit range), as MCD faced a negative impact from war in the Middle East and a spending pullback by lower income consumers, as eating at home has recently become more affordable. We also note higher price competition and weak consumer sentiment in China, as MCD increased

McDonald’s is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. While price increases and promotions helped U.S. sales in the fourth quarter, executives said the Israel-Hamas war continues to affect international business. Global same-store sales rose 3.4% in the quarter, compared with the 4.7% gain expected by analysts polled by FactSet. Dow Jones & Co. owns Factiva.

McDONALD’S REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS PR Newswire CHICAGO, Feb. 5, 2024 — Global comparable sales have grown 9% for the year and over 30% since 2019 — Systemwide sales* to loyalty members were over $20 billion for the full year and over $6 billion for the quarter across 50 loyalty markets, with full year growth of more than 45% over prior year CHICAGO, Feb. 5, 2024 /PRNewswire/ — McDonald’s Corporation today announced results for the fourth quarter and year ended December 31, 2023. “Our global comparable sales growth of 9% for the year is a testament to the tremendous dedication of the entire McDonald’s System,” said McDonald’s President and CEO Chris Kempczinski. “Strong execution of our Accelerating the Arches strategy has driven over 30% comparable sales growth since 2019 as our talented crew members, and the industry’s best franchisees and suppliers have demonstrated proven agility with

McDonald’s (NYSE:MCD) reported quarterly sales of $6.41 billion which missed the analyst consensus estimate of $6.45 billion by 0.68 percent. This is a 8.09 percent increase over sales of $5.93 billion the same period last year.

McDonald’s (NYSE:MCD) reported quarterly earnings of $2.95 per share which beat the analyst consensus estimate of $2.82 by 4.61 percent. The company reported quarterly sales of $6.41 billion which missed the analyst consensus estimate of $6.45 billion by 0.68 percent. This is a 8.09 percent increase over sales of $5.93 billion the same period last year.

McDonald’s Expects Net Restaurant Unit Expansion to Contribute Nearly 2% to 2024 Systemwide Sales Growth.

McDonald’s (MCD) reported Q4 adjusted earnings Monday of $2.95 per diluted share, up from $2.59 a year earlier. Analysts polled by Capital IQ expected $2.83. Revenue for the quarter ended Dec. 31 was $6.41 billion, up from $5.93 billion a year earlier. Analysts surveyed by Capital IQ expected $6.45 billion.