Shares in McDonald's Corporation (symbol ‘MCD’) gained around 14% in the last quarter of 2023 and managed to cover the losses incurred in the previous quarter. The company’s earnings report for the fiscal quarter ending December 2023 is set to be released on Monday 5th of February, before market open. The consensus EPS for Q4 is $2.81 compared to Q4 2022’s $2.59.
‘The company’s outstanding performance in the last quarter of the year is also reflected in the financial image that has to display. With a noteworthy 17% year-over-year growth in net income, coupled with a current ratio of approximately 171% as of September 30, 2023, the company exhibits a robust financial position. This indicates that the company can repay its short term losses with the current assets at hand, in simple terms it has the ability to withstand any short term difficulties.’ said Antreas Themistokleous, an analyst at Exness
On the technical side the share performed exceptionally well in the last quarter of the year and has found sufficient resistance on the upper band of the Bollinger bands in recent sessions causing it to correct to the downside at the time of this report being written. The Stochastic oscillator is in the neutral levels meaning it does not show any overbought or oversold indications while the 50 day moving average is still trading well above the 100 day moving average further validating the overall bullish momentum in the market.