McDonald's shares hit all-time high

Shares of McDonald’s are extending gains after closing at a record high on Thursday following analyst upgrades.

Shares of McDonald’s closed at a record high Thursday and are up again on Friday, ‘likely because of upgrades made to earnings’, one analyst said.

David Zanoni, financial author and Seeking Alpha contributor said the fast-food chain’s $277.79 closing price on Thursday was a result of analyst upgrades of earnings per share over the last three months from $10.49 to $10.58 in 2023 and from $11.44 to $11.70 in 2024.

"McDonald’s typically performs well during uncertain economic times," he added. "With inflation, families of four could easily spend over $100 in casual restaurants; however, with McDonald’s, that cost could be 50% to 75% lower as a more convenient option."

CHICK-FIL-A REMOVING MENU ITEM EFFECTIVE APRIL 3

Zanoni said McDonald’s makes a lot of money collecting fees from its franchisees.

PEPSI UNVEILS NEW LOOK FIRST REFRESH IN 14 YEARS

As a result, "The company is a cash-flow turn-key operation, and part of this money is paid to shareholders as dividends.," he finished. 

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.