Arcos Dorados Holding Inc. (NYSE:ARCO) is ready to bring the spirit of the Olympic Games to the 20 countries in which it operates in Latin America. Since 1976, McDonald’s has been the official sponsor of the Olympic Games, a longstanding relationship which is the result of sharing the same values as this major sporting event: excellence, friendship and respect.
The Olympic party began in April of this year when children from throughout the region took part in the McDonald’s Olympics Kids Program, which was held across the global McDonald’s system. The winners will have the opportunity to play an active role in the opening ceremony for the 2016 Olympic Games alongside the best athletes in the world. The opening ceremony will take place in Rio de Janeiro’s famous Maracanã Stadium and is expected to be attended by some 80,000 people. The countries that will be sending their winning contestants to take part in this once-in-a-lifetime experience are: Argentina, Australia, Brazil, Canada, Chile, China, Costa Rica, France, Germany, Indonesia, Japan, Mexico, Panama, Puerto Rico, South Korea, Thailand, the United Kingdom and the United States.
“We are exceedingly proud to give around 150 Arcos Dorados restaurant crew and managers the opportunity to represent McDonald’s during the Olympic Games. Just as the brand has been doing since 1996, we will be serving McDonald’s iconic menu items, such as Big Macs and Chicken McNuggets, at the Olympic Village, alongside local products that we are certain the athletes will love, such as Pão de Queijo and an egg, cheese and bacon sandwich which is very popular in Brazil,” commented Sergio Alonso, CEO of Arcos Dorados.
Arcos Dorados Equity Analysis
Arcos Dorados Holding Inc. (NYSE:ARCO) opened trading today as $5.08 and is trading in the range of 4.57-5.08 today. Arcos Dorados’ current market cap stands at $1.07 Billion.
Arcos Dorados is currently covered by 5 Wall Street analysts. The mean target price is $5.40 according to First Call. This presents a solid upside to the current price of the equity. The Mean Recommendation sits at 3.4 which is based on 1 Buy and 2 Hold ratings.
Arcos Dorados reported actual earnings last quarter of 0.21 which beats the -0.01 consensus estimate, a 10.50% surprise.
Arcos Dorados Holdings Inc. is a McDonald’s franchisee. The Company operates or franchises over 2,140 McDonald’s-branded restaurants. It divides its operations into four geographical divisions: Brazil; the Caribbean division, consisting of Aruba, Colombia, Curacao, French Guiana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the United States Virgin Islands of Saint Croix and Saint Thomas, and Venezuela; the North Latin America division (NOLAD), consisting of Costa Rica, Mexico and Panama, and the South Latin America division (SLAD), consisting of Argentina, Chile, Ecuador, Peru and Uruguay. Its menus feature over three tiers of products: entry-level options, such as its Big Pleasures, Small Prices offerings and Almuerzos Colombianos (Colombian Lunches) in Colombia; core menu options, such as the Big Mac, Happy Meal and Quarter Pounder, and premium options, such as Big Tasty or Angus premium hamburgers and chicken sandwiches and low-calorie or low-sodium products.