McDonald’s (NYSE:MCD) Announces Earnings Results

McDonald’s (NYSE:MCD) released its quarterly earnings data on Tuesday. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05, Briefing.com reports. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the company posted $3.19 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year.

McDonald’s Price Performance

MCD stock traded down $2.04 during midday trading on Wednesday, reaching $292.96. 2,476,364 shares of the stock were exchanged, compared to its average volume of 3,512,966. McDonald’s has a 52 week low of $243.53 and a 52 week high of $317.90. The company has a fifty day moving average price of $298.15 and a 200 day moving average price of $275.35. The stock has a market capitalization of $210.15 billion, a PE ratio of 25.63, a P/E/G ratio of 4.13 and a beta of 0.73.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 61.94%.

Insider Buying and Selling at McDonald’s

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MCD has been the topic of several research analyst reports. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Truist Financial cut their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup increased their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Barclays boosted their target price on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $318.74.

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.