Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, July 29, 2022

Article Excerpt

MCDONALD’S CORP., $263.58, New York symbol MCD, is your #1 Conservative Buy for 2022. The company is the world’s largest fast-food chain with 40,000 restaurants in 119 countries. It serves a wide variety of food but is best known for its hamburgers and french fries. Franchisees own roughly 95% of those outlets. McDonald’s continues to see strong customer traffic despite raising its selling prices to cover higher costs for food, fuel and labour. However, revenue in the quarter ended June 30, 2022, fell 2.9%, to $5.72 billion from $5.89 billion. That missed the consensus forecast of $5.82 billion. If you adjust for currency rates, revenue improved 3%. Without unusual items, including the cost to settle a tax dispute in France, earnings in the latest quarter rose 6.1%, to $1.89 billion from $1.78 billion. Due to fewer shares outstanding, per-share earnings improved 7.6%, to $2.55 from $2.37. That beat the consensus estimate of $2.47. Excluding its outlets in Russia, which the company recently sold, same-store sales…

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