McDonald

McDonald’s (NYSE:MCD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/20/2023 8.93% HSBC → $317 Initiates Coverage On → Buy 12/12/2023 16.84% Truist Securities $335 → $340 Maintains Buy 12/11/2023 2.75% Piper Sandler $273 → $299 Maintains Neutral 12/07/2023 -2.06% Stifel $270 → $285 Maintains Hold 12/07/2023 8.25% RBC Capital → $315 Reiterates Outperform → Outperform 12/07/2023 15.12% BMO Capital $325 → $335 Maintains Outperform 12/07/2023 11.68% TD Cowen $300 → $325 Maintains Outperform 12/01/2023 8.25% Oppenheimer → $315 Reiterates Outperform → Outperform 11/30/2023 6.53% Citigroup $280 → $310 Maintains Neutral 10/31/2023 -4.47% JP Morgan $270 → $278 Maintains Overweight 10/31/2023 8.25% RBC Capital → $315 Reiterates Outperform → Outperform 10/31/2023 11.68% BMO Capital $340 → $325 Maintains Outperform 10/31/2023 3.09% DZ Bank → $300 Upgrades Hold → Buy 10/31/2023 6.53% Wedbush → $310 Reiterates Outperform → Outperform 10/31/2023 3.09% Stephens & […]

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month target price to $290 from $332, 23.6x our 2024 EPS, a discount to MCD’s five-year average forward P/E of 26.9x, justified by the risk of worsening traffic trends. We raise our 2023 EPS estimate to $11.73 from $11.57 and 2024’s to $12.29 from $12.06. MCD posts Q3 adj-EPS of $3.19, $0.20 above consensus. Revenue of $6,692M (+14.0% Y/Y) was $142M above consensus. Adj-operating income grew to $3,234M, with margin widening 130 bps to 48.3% vs. 46.9% consensus. Comp sales rose 8.8% vs. 8.0% consensus, mainly due to higher menu prices. However, topline growth is moderating largely due to falling inflation and cost of living pressures. We note a drop in traffic among low-income consumers, more promotional activity in the QSR industry, and pressure

McDONALD’S REPORTS THIRD QUARTER 2023 RESULTS PR Newswire CHICAGO, Oct. 30, 2023 — Global Systemwide sales* increased 11% for the quarter, with global comparable sales of nearly 9% and strong growth across each segment — Digital Systemwide sales in our top six markets were nearly $9 billion for the quarter, representing over 40% of their Systemwide sales CHICAGO, Oct. 30, 2023 /PRNewswire/ — McDonald’s Corporation today announced results for the third quarter ended September 30, 2023. “With global Systemwide sales growth of 11%, our third quarter results reflect our position of strength as the industry leader,” said McDonald’s President and Chief Executive Officer, Chris Kempczinski. “The macroeconomic environment is unfolding in line with our expectations for the year, and we continued to deliver convenience and value for our customers. Thanks to the entire McDonald’s System’s outstanding execution of Accelerating the Arches, we remain confident in our future and the strategic

McDonald’s Q3 Global System Sales Increased 11%, Global Comparable Sales Increased 8.8%.

McDonald’s (MCD) reported Q3 non-GAAP earnings Monday of $3.19 per diluted share, up from $2.68 a year earlier. Analysts polled by Capital IQ expected $2.99. Revenue for the quarter ended Sept. 30 was $6.69 billion, compared with $5.87 billion a year earlier. Analysts surveyed by Capital IQ expected $6.55 billion. Global comparable sales were up 8.8% during the quarter, the company said. Analysts polled by Capital IQ expected a nearly 8% growth rate.

McDonald’s CEO Says Have Seen Broad-Based Momentum Across The Business Over Q3, Despite Continued Headwinds, Challenging Macro Environment; While Top-Line Growth Continued To Moderate, As Expected, Co Is Still Outpacing Competitors.

McDonald’s and Chipotle, the giants of fast food and fast-casual dining, appear to be outperforming the rest of the dining sector as rising prices have consumers eating out less, foot-traffic data firm Placer.ai says in a new report. While McDonald’s saw a 3.7% drop in visits in September, that’s still better than the 4.2% drop for the overall dining sector, according to Placer.ai data. Chipotle visits were actually up 4.7% in September, though visit growth has been trending down, the report says. McDonald’s is leaning into its role as a rural dining destination with an affordable menu, while Chipotle is doing the same as a suburban destination for higher-income individuals, the report says.

‘Both Chipotle and McDonald’s are well-positioned to continue their winning streak,’ according to Placer.ai McDonald’s Corp. and Chipotle Mexican Grill Inc. are outperforming the broader dining sector, according to foot-traffic data from analytics company Placer.ai, despite concerns about consumer spending. “While year-over-year foot traffic trends indicate that neither chain is immune from the ongoing economic headwinds — both Chipotle and McDonald’s are well-positioned to continue their winning streak,” Bracha Arnold of Placer.ai wrote in a blog post. “McDonald’s and Chipotle have both focused on innovation and menu enhancements in recent years, positioning themselves well to address industry challenges.”