McDonald's (MCD) Q2 Sinks Bullish Thesis
On Monday McDonald's Corp. (NYSE: MCD) reported Q2 EPS of $1.38, $0.02 worse than the analyst estimate of $1.40. Revenue for the quarter came in at $7.08 billion versus the consensus estimate of $7.1 billion, and June comps came in at 0.9% vs 1.45 expected. Unsurprisingly, shares traded lower.
Goldman Sachs analyst Michael Kelter said, "as it relates to today's stock move, MCD indicated July SSS are likely to come in flat, well below the 3.5% consensus expectation. This flat forecast comes in spite of easy compares, and likely erodes the long thesis that is predicated on MCD reaccelerating against easy compares as 2013 progresses."
McDonald's stock traded lower by 2.75% following the report.
Goldman Sachs has a Neutral rating on McDonald's with a price target of $106.00
For an analyst ratings summary and ratings history on McDonald's (NYSE: MCD) click here. For more ratings news on McDonald's click here.
Shares of McDonald's closed at $100.27 yesterday, with a 52 week range of $83.31-$103.70.
Goldman Sachs analyst Michael Kelter said, "as it relates to today's stock move, MCD indicated July SSS are likely to come in flat, well below the 3.5% consensus expectation. This flat forecast comes in spite of easy compares, and likely erodes the long thesis that is predicated on MCD reaccelerating against easy compares as 2013 progresses."
McDonald's stock traded lower by 2.75% following the report.
Goldman Sachs has a Neutral rating on McDonald's with a price target of $106.00
For an analyst ratings summary and ratings history on McDonald's (NYSE: MCD) click here. For more ratings news on McDonald's click here.
Shares of McDonald's closed at $100.27 yesterday, with a 52 week range of $83.31-$103.70.