McDonald's Analysts Cut Their Forecasts After Downbeat Earnings
Portfolio Pulse from Avi Kapoor
McDonald's Corp (NYSE:MCD) reported worse-than-expected Q2 FY24 results, with sales and EPS missing analyst estimates. Global and U.S. comparable sales also declined. Despite this, McDonald's shares rose 3.7%. Analysts have lowered their price targets but maintained positive ratings.
July 30, 2024 | 1:26 pm
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NEGATIVE IMPACT
McDonald's reported disappointing Q2 FY24 results, with sales and EPS missing analyst estimates. Global and U.S. comparable sales declined. Despite this, shares rose 3.7%. Analysts lowered their price targets but maintained positive ratings.
The disappointing earnings report and lowered price targets suggest a negative short-term impact on McDonald's stock. However, the stock's 3.7% rise indicates some investor optimism, possibly due to confidence in the company's strategic initiatives.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100