McDonald's stock gains ahead of earnings report amid discount strategies

Shares of McDonald's MCD.N are up 0.7% at $298.35 on Tuesday ahead of its quarterly earnings call on Wednesday

Wall Street will likely be eyeing the impact of MCD's recent moves to drive sales across its restaurants. In August, MCD agreed to discount eight popular combo meal offerings by 15%, and offer $5 and $8 specials

MCD is expected to report 3% growth in adj EPS to $3.33 on revenue of $7.1 bln, up 3.2%

Adj EPS has surpassed expectations 5 times over the last 8 quarters while revenue has met estimates 4 times in the same period

Among 40 analysts covering MCD, avg rating is a "BUY" and median PT is $337

MCD is up 2.9% YTD vs ~8% gain in the S&P 500 consumer discretionary index .SPLRCD