McDonald's sales rise 1.3 percent at US stores

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Easterbrook attributed some of McDonald's success to the all-day breakfast

McDonald's has more than 36,000 locations globally. The Earnings per Share of the company stands at $5.25. Telsey Advisory Group initiated coverage on shares of McDonald's Corp.in a report on Monday, October 10th. Notably, comps had witnessed growth of 1.6% last quarter. The company had revenue of $6265.00 million for the quarter, compared to analysts expectations of $6265.41 million. RPg Family Wealth Advisory LLC now owns 975 shares of the fast-food giant's stock worth $123,000 after buying an additional 830 shares during the last quarter.

Results for the quarter and nine months benefited from stronger operating performance and higher gains on sales of restaurant businesses, partly offset by pre-tax restructuring and non-cash impairment charges of $128 million in the quarter and $357 million for the nine months related to the Company's global G&A and refranchising initiatives. (NYSE:MCD) traded down 0.62% during midday trading on Thursday, hitting $110.57. McDonald's Corp. The company has a market cap of $94.36 billion, a PE ratio of 21.11 and a beta of 0.61.

The stock has its 200-day moving average of $120.99 and $114.92 as its 50-day moving average. Additionally, adverse foreign exchange (FX) translation resulted in an impact of $0.03 on MCD's third quarter. Our consensus earnings estimate called for earnings per share of $1.48, and the company reported earnings of $1.62 per share.

Total revenue fell nearly 3 per cent to US$6.42 billion - down for the ninth straight quarter - but beat the average analyst estimate of US$6.28 billion.

McDonald's sales rise 1.3 percent at US stores
McDonald's sales rise 1.3 percent at US stores

Last week, McDonald's said that it expects to incur about $130 million in pretax charges in the third quarter, which comes out to 12 cents a share post-tax, as part of its global general and administrative and refranchising strategy, first announced in November of past year.

Excluding items, the company earned $1.62 per share, beating the average analyst estimate of $1.48, according to Thomson Reuters I/B/E/S. In the USA, comparable sales increased 1.3%, just above the 1.2% growth anticipated by analysts. The ex-dividend date of this dividend is Tuesday, November 29th. McDonald's has turned in five straight quarters of rising global and USA same-store sales under Easterbrook. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.40%. McDonald's Corporation makes up approx 0.49% of Fox Run Management L.l.c.'s portfolio.

MCD has been the topic of a number of recent research reports.

Today's reaction was assuredly better than the reaction to the July earnings, which had sent the shares down 12% over the previous three months. The consensus price target stands at $131.33, marking a 15% upside from where the stock is now trading. You can see the complete list of today's Zacks #1 Rank stocks here. The Closing price of McDonald's Corp.

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