{"id":2636,"date":"2013-07-22T07:01:19","date_gmt":"2013-07-22T07:01:19","guid":{"rendered":"http:\/\/www.franchisemart.in\/franchise\/?p=2636"},"modified":"2013-07-22T07:02:23","modified_gmt":"2013-07-22T07:02:23","slug":"mcdonalds-downgraded-on-franchisee-survey-results","status":"publish","type":"post","link":"https:\/\/www.franchisemart.in\/franchise\/mcdonalds-downgraded-on-franchisee-survey-results\/","title":{"rendered":"McDonald’s downgraded on franchisee survey results"},"content":{"rendered":"

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(Reuters) \u2014 Janney Capital Markets downgraded McDonald’s Corp. shares to “neutral” from “buy” on Wednesday after a survey of restaurant operators suggested that analysts’ expectations for near- and medium-term U.S. sales at established restaurants are too high.<\/p>\n

Based on Janney’s proprietary McDonald’s Franchisee Survey, analyst Mark Kalinowski lowered his forecast for June same-restaurant sales growth by 90 basis points to 1.1 percent, below the Consensus Metrix estimate for a 2.2 percent rise.<\/p>\n

Kalinowski – known for spotting trends in McDonald’s U.S. business – also reduced his projection for July U.S. same-restaurant sales growth by 50 basis points to 1.5 percent, versus analysts’ average estimate for a gain of 3.5 percent.<\/p>\n

The survey included 28 domestic franchisees, who as a group own 216 McDonald’s restaurants in the United States.<\/p>\n

The world’s biggest hamburger chain will release June restaurant sales and second-quarter results on July 22.<\/p>\n

McDonald’s stock, a Dow component, was down 1.2 percent at $99.73 in midday trading on the New York Stock Exchange.<\/p>\n