McDonald's shares hit all-time high
Shares closed Thursday at $277.79
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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.
Sign promoting McDonald's "PLT" burger with a Beyond Meat plant-based patty at one of 28 test restaurant locations in Ontario, Canada, Oct. 2, 2019. (Reuters/Moe Doiron / Reuters Photos)
"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."
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MCD | MCDONALD'S CORP. | 290.28 | +1.81 | +0.63% |
Zanoni said McDonald’s makes a lot of money collecting fees from its franchisees.
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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.