Chipotle Mexican Grill, Inc. (NYSE:CMG) Forecasted to Earn Q3 2024 Earnings of $13.61 Per Share

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Equities researchers at Wedbush dropped their Q3 2024 EPS estimates for Chipotle Mexican Grill in a note issued to investors on Friday, March 22nd. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings per share of $13.61 for the quarter, down from their previous estimate of $13.63. Wedbush has a “Neutral” rating and a $2,850.00 price target on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $53.12 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s Q1 2025 earnings at $15.31 EPS, Q2 2025 earnings at $17.98 EPS, Q3 2025 earnings at $16.84 EPS and Q4 2025 earnings at $16.60 EPS.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 EPS for the quarter, beating the consensus estimate of $9.73 by $0.63. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.49 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the company posted $8.29 earnings per share.

CMG has been the subject of several other research reports. Citigroup increased their price target on shares of Chipotle Mexican Grill from $2,699.00 to $3,016.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Barclays increased their target price on shares of Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Stifel Nicolaus increased their price target on Chipotle Mexican Grill from $2,450.00 to $2,560.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. BTIG Research lifted their price objective on Chipotle Mexican Grill from $2,650.00 to $2,750.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Truist Financial increased their target price on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,547.85.

Chipotle Mexican Grill Trading Up 1.8 %

Shares of Chipotle Mexican Grill stock opened at $2,955.00 on Monday. The company’s fifty day simple moving average is $2,592.25 and its 200-day simple moving average is $2,255.34. Chipotle Mexican Grill has a 1 year low of $1,628.90 and a 1 year high of $3,023.98. The company has a market cap of $81.03 billion, a price-to-earnings ratio of 66.63, a PEG ratio of 2.47 and a beta of 1.29.

Chipotle Mexican Grill’s stock is scheduled to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors have recently bought and sold shares of the business. HighPoint Advisor Group LLC acquired a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth about $1,105,000. Accent Capital Management LLC bought a new position in shares of Chipotle Mexican Grill during the fourth quarter worth approximately $1,143,000. Vanguard Group Inc. boosted its stake in Chipotle Mexican Grill by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock valued at $6,191,334,000 after purchasing an additional 23,151 shares during the period. ICA Group Wealth Management LLC acquired a new position in Chipotle Mexican Grill in the 4th quarter valued at $37,000. Finally, SageView Advisory Group LLC acquired a new position in Chipotle Mexican Grill in the 4th quarter valued at $593,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the sale, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the completion of the sale, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian R. Niccol sold 1,100 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $2,278.45, for a total transaction of $2,506,295.00. Following the transaction, the chief executive officer now owns 22,447 shares in the company, valued at $51,144,367.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,893 shares of company stock worth $20,827,447. Corporate insiders own 0.96% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.