McDonald's Corp Firing on all Cylinders
McDonald's Corp. (NYSE:MCD) can do no wrong as the stock price today hits a new all-time high just under $90. The analysts covering the company love them as does its customers, as the jingle goes "lovin' it".
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McDonald's (MCD) shares hit a new 52-week high of $89.57 today and closed at $88.56. The company has been able to pass rising food costs to its customers while still raking in same-store customer orders at a 3.8% year over year increase in the first half of 2011.
Here's more on the latest results courtesy of Bloomberg.com -- McDonald’s Corp. (MCD), the world’s largest restaurant chain, said second-quarter profit rose 15 percent, topping analysts’ estimates, as more consumers dined out and McCafe beverages boosted sales.
Net income climbed to $1.41 billion, or $1.35 a share, from $1.23 billion, or $1.13, a year earlier, the Oak Brook, Illinois-based company said today in a statement. The average estimate of 22 analysts surveyed by Bloomberg was $1.28 a share.
Chief Executive Officer James Skinner began selling McCafe coffee in the U.S. in May 2009 to lure customers during non-peak dining hours and has since added cold drinks such as smoothies. Second-quarter McCafe sales in the U.S. rose 29 percent from a year earlier, the company said today on a conference call. Continue>>
McDonald's Corp (MCD) shares have traded between $68.59 and $89.57 over the past 12 months. McDonald's shares are now trading with a P/E Ratio of 18.3 and EPS of 4.73.