Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, May 3, 2024

Article Excerpt

MCDONALD’S CORP., $270.31, New York symbol MCD, is your #1 Conservative Buy for 2024. The company is the world’s largest fast-food chain with over 40,000 restaurants in 119 countries. It serves a wide variety of food but is best known for its hamburgers and french fries. McDonald’s continues to benefit from its recent price hikes, which help offset rising labour and other operating costs. However, the higher prices are starting to slow traffic at its U.S. outlets. The conflict in the Middle East is also hurting overall sales at its international locations. Despite these challenges, McDonald’s revenue in the quarter ended March 31, 2024, rose 4.6%, to $6.17 billion from $5.90 billion a year earlier. That beat the consensus forecast of $6.16 billion. Overall same-store sales rose 1.9% on gains at the U.S. division, up 2.5%, and International Operated Markets (Australia, Canada, France, Germany, Italy, the Netherlands, Spain and the U.K.), up 4.4%. However, same-store sales at the International Developmental Licensed Markets division (mainly…