Get Ready for McDonald's and Wells Fargo Earnings' Tomorrow (MCD, WFC)
Both Wells Fargo & Company (NYSE:WFC) and McDonald's Corporation (NYSE:MCD) are set to report Q3 earnings tomorrow morning, banking and burgers have never sounded so good together.
Wells Fargo (WFC) is expected to report Q3 2009 earnings of 36 cents a share, according to analysts surveyed by Thomson Reuters. However the Street really cares about the guidance and how will Q4 2009 and into 2010 shape up.
Going forward, for the fiscal year ending December 2009, the consensus EPS forecast has increased over the past week from $1.741 to $1.750 (0.52%) and increased over the past month from $1.692 to $1.750 (3.43%). Of the 23 analysts making yearly forecasts, 4 raised and 4 lowered their forecast.
Since the March low Wells shares have rallied from $7.80 to the low $30 range, stay tuned at 8 AM EST tomorrow (10/21) we will hear more.
Expectations are high for McDonald's Corp. (MCD), analysts polled by Thomson Reuters predict a profit of $1.11 per share on revenue of $6.10 billion for the quarter. Wall Street gets to see how well the $4 Angus Burger did and what the plans are going forward. The world's largest fast-food chain said sales in restaurants open at least a year climbed 4.3% in July and 2.2 percent in August.
McDonald's said it will establish a European headquarters in Geneva, Switzerland by the end of 2009. The restaurant chain also raised its quarterly dividend 10 percent to 55 cents.
MCD posts earnings a 8:30 AM EST tomorrow (10/21) and the conference call begins at 11 AM EST.