Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, November 1, 2024

Article Excerpt

MCDONALD’S CORP., $295.21, New York symbol MCD, is still your #1 Conservative Buy for 2024. The company is the world’s largest fast-food chain with over 42,000 restaurants in 119 countries. It serves a wide variety of food but is best known for its hamburgers and french fries. The company reported higher-than-expected results for its latest quarter, despite lower sales at its international locations, particularly in China and the Middle East. However, sales in the U.S. improved thanks to a successful $5 value meal promotion. In the three months ended September 30, 2024, McDonald’s revenue rose 2.7%, to $6.87 billion from $6.69 billion a year earlier. That beat the consensus forecast of $6.82 billion. Overall same-store sales fell 1.5% on declines at the International Operated Markets division (Australia, Canada, France, Germany, Italy, the Netherlands, Spain and the U.K.), down 2.1%; and the International Developmental Licensed Markets division (mainly outlets in China, Japan, the Middle East and remaining markets), down 3.5%. However, U.S. same-store sales rose…