Shares of McDonald's have fallen 3% this year, dragging its market value down to $186 billion.McDonald's has reported strong demand in the U.S. and Europe as consumers trade down to fast food's cheap meals.Here's what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, are expecting:Sign up for NBC New York newsletters.
Shares of McDonald's have fallen 3% this year, dragging its market value down to $186 billion. But the stock has struggled even more recently, tumbling 14% in the past three months. Broader economic worries, such as high interest rates and currency exchange rates, and long-term concerns about weight loss drugs such as Wegovy, have hit the stock.
But Wall Street has high expectations for the fast-food giant's third quarter. Analysts are expecting the company to report same-store sales growth of 7.8%, according to StreetAccount estimates. McDonald's has reported strong demand in the U.S. and Europe as consumers trade down to fast food's cheap meals.