NEW YORK (TheStreet) -- McDonald's (MCD) was rising 3.4% to $98.44 at 11:11 a.m. on Tuesday after CFO Pete Bensen spoke at the Bank of America/Merrill Lynch 2014 Consumer & Retail Conference and explained at length that the world's largest restaurant chain by revenue could fix its decline in comparable-store sales in February.
McDonald's reported a greater-than-expected drop in global comparable-store sales for February, thanks in part to slow U.S. business. McDonald's noted worldwide sales at restaurants open at least 13 months fell 0.3% for the month, which was worse than analysts' average estimate of a 0.1% decline, according to Reuters. Same-restaurant sales in the U.S. fell 1.4%, worse than analysts' estimate of a 0.6% decline.
Despite this news, McDonald's climbed to its highest price since Nov. 2013 after Bensen's remarks, in which he said the company would stabilize its performance in the U.S., Japan and Germany in 2014 and noted McDonald's growth in several emerging markets. Furthermore, McDonald's plans to return $5 billion to its shareholders this year.
TheStreet Ratings team rates MCDONALD'S CORP as a "buy" with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate MCDONALD'S CORP (MCD) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, growth in earnings per share, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."