Stock Update (NYSE:MCD): McDonald’s probes copycat burger joint in separatist east Ukraine

[Reuters] – The McDonald’s fast food chain said its lawyers were investigating after entrepreneurs in separatist-controlled eastern Ukraine started selling McDonald’s-style hamburgers out of a restaurant that the company shut down two years ago. The company said it pulled out of the Ukrainian city of Luhansk in May 2014 for security reasons after pro-Russian insurgents mounted an armed uprising there against Kiev’s rule, and unilaterally declared the region’s independence. Photographs sent to Reuters by a witness on Friday showed the restaurant was now open and selling fries and burgers that look similar to those served in McDonald’s restaurants worldwide. Read more on this. McDonald’s Corp. (MCD) , valued at $111.02B, started the session at $127.93. Shares have traded today between $126.10 and $127.93 per share with a one year range of $87.50 to $129.80. MCD shares are currently priced at 23.09x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 23.06x forward p/e ratio. And for passive income investors, the company pays shareholders $3.56 per share annually in dividends, yielding 2.79%. Consensus earnings for the current quarter by the 27 sell-side analysts covering the stock is an estimate of $1.40 per share, which would be $0.14 better than the year-ago quarter and a $0.04 sequential increase. Investors should also note that the full-year EPS estimate of $5.54 is a $0.56 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $6.29 Billion. If realized, that would be a 3.23% decrease over the year-ago quarter. Recently, Longbow Initiated MCD at Neutral (Mar 18, 2016). Previously, Argus upgraded MCD from Hold to Buy. The average price target for MCD shares by the analysts covering it is $130.45, which is 1.97% above where the stock opened. See more in (NYSE:MCD) Similar Articles: Company Update: McDonalds Corporation (NYSE:MCD) – McDonald’s to add more than 1,500 outlets in China, HK, Korea Company Update: McDonalds Corporation (NYSE:MCD) – McDonald’s Celebrates Friendship by Sending 100 Kids From Around the World to Be in the Rio 2016 Olympics Opening Ceremony Stock Update: McDonalds Corporation (NYSE:MCD) – McDonald’s makes happy meal out of jumbo bond
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