Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.Yahoo FinanceMcDonald’s stock spikes to new record after blockbuster Q1 earningsBrooke DiPalma·Associate Producer April 30, 2021, 8:08 AM·3 min readOops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.
McDonald’s (MCD) hit a record high on Friday, fueled by a blockbuster fiscal first-quarter earnings report that topped Wall Street’s expectations.
In intraday trading that saw stocks retreat despite blowout earnings from tech bellwethers, the Golden Arches vaulted as high as $236.10 per share before paring those gains. Investors cheered McDonald’s quarterly results, which saw the fast food giant’s sales return to pre-pandemic levels.
Same-store sales in the U.S. jumped by 13.6%, while overseas saw a comparatively softer 7.5% bounce, with lockdowns still in effect in other countries.
Meanwhile, both earnings per share (EPS) and revenue topped market expectations.
Peter Saleh of BTIG, who has a “Buy” rating on shares of McDonald’s and price target of $245, told Yahoo Finance that in the U.S.,...read more...