McDonalds Corporation (NYSE:MCD) restaurants and services provider, is expected to report third quarter earnings results, before market open, on Monday 9th November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 1.90 per share.
Looking ahead, the full year income are expected at $ 5.97 per share on the revenues of $ 19275.30 million.
Previous Quarter Performance
McDonalds Corporation announced income for the second quarter of $ 0.66 per share, from the revenue of $ 3,761.50 million. The quarterly earnings contracted 67.80 percent while revenues down 29.58 percent compared with the same quarter last year.
Wall street analysts are predicting, MCD to report 2Q20 income of $ 0.74 per share from revenue of $ 3676.34 million. The bottom line results missed street analysts by $ 0.08 or 10.81 percent, at the same time, top line results outshined analysts by $ 85.16 million or 2.32 percent.
Stock Performance
On Friday, shares of McDonalds Corporation has traded high as $ 217.89 and has cracked $ 214.25 on the downward trend, reaching $ 216.56 with volume of 3.92 million shares.
According to the previous trading day, closing price of $ 216.56, representing a 74.12 % increase from the 52 week low of $ 124.23 and a 6.73 % decrease over the 52 week high of $ 231.91.
The company has a market capital of $ 161.14 billion and is part of the Consumer Cyclical sector and Restaurants industry.
Recent Analyst recommendations
- On 14th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 248.00 target price.
- On 9th October 2020, maintained by Jefferies Financial Group at Buy rating, with $ 265.00 target price.
- On 9th October 2020, maintained by BMO Capital Markets at Outperform rating, with $ 235.00 target price.
- On 1st October 2020, maintained by Wells Fargo & Co at Overweight rating, with $ 244.00 target price.
Conference Call
McDonalds Corporation will be hosting a conference call at 8:30 AM eastern time on 9th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website corporate.mcdonalds.com
McDonalds Corporation operates and franchises McDonalds restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of March 31, 2019, the company operated 37,971 restaurants, including 35,278 franchised restaurants.
