McDonald’s Q3 Results Beat Estimates

McDonald's Corporation (NYSE:MCD) reported its Q3 results, which were overall strong with notable momentum in the US, UK and Canada. Quarterly EPS came in at $2.76, beating the consensus estimate of $2.46. Revenue was $6.2 billion, above the Street estimate of $6.03 billion.

Analysts at RBC Capital provided their view on the company following the results, noting that they expect upside to the company's potentially conservative Q4 US comp guidance, given continued average check strength, as well as opportunities for improvement in other IOM markets. As a result, the analysts raised their price target on the company’s shares to $280 from $268, maintaining their outperform rating.