NEW YORK (TheStreet) --Shares of McDonald's Corp (MCD) are down by -1.05% to $99.25 in early afternoon trading on Wednesday, following the results of a Janney Capital Markets survey which showed McDonald's franchisees' sales outlook are the lowest they've been in over 10-years, CNBC.com reports.
On a scale of one to five, one being "poor" and five being "excellent," the average score of the franchisees' surveyed was 1.84, the lowest since the firm began polling in 2003, CNBC added.
As a result of the survey Janney cut its U.S.-based McDonald's same-store sales by 2.6% for June, and by 1.8% for July.
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Janney also lowered its full value estimate on the fast food chain to $96 from $98.
Separately, 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, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."