Chipotle Mexican Grill, Inc. to Post Q2 2024 Earnings of $15.39 Per Share, Wedbush Forecasts (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Wedbush lifted their Q2 2024 earnings per share (EPS) estimates for Chipotle Mexican Grill in a research report issued on Thursday, April 25th. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of $15.39 for the quarter, up from their prior forecast of $14.74. Wedbush currently has a “Neutral” rating and a $3,200.00 target price on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $53.49 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s Q2 2025 earnings at $18.59 EPS and FY2025 earnings at $68.56 EPS.

Several other research firms have also issued reports on CMG. BTIG Research raised their price target on shares of Chipotle Mexican Grill from $3,250.00 to $3,350.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus raised their price target on shares of Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Jefferies Financial Group lifted their price objective on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Stephens lifted their price objective on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, KeyCorp lifted their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the company an “overweight” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3,057.68.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $3,116.02 on Friday. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,145.69. The firm’s 50 day simple moving average is $2,811.11 and its 200 day simple moving average is $2,416.65. The company has a market cap of $85.60 billion, a PE ratio of 66.50, a P/E/G ratio of 2.48 and a beta of 1.28.

Chipotle Mexican Grill shares are going to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 45.46%. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion.

Institutional Trading of Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Byrne Asset Management LLC boosted its stake in shares of Chipotle Mexican Grill by 11.8% during the first quarter. Byrne Asset Management LLC now owns 38 shares of the restaurant operator’s stock valued at $110,000 after purchasing an additional 4 shares during the period. Evermay Wealth Management LLC boosted its stake in shares of Chipotle Mexican Grill by 1.8% during the fourth quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after purchasing an additional 4 shares during the period. Peloton Wealth Strategists boosted its stake in shares of Chipotle Mexican Grill by 0.3% during the fourth quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after purchasing an additional 4 shares during the period. Diversified Trust Co boosted its stake in shares of Chipotle Mexican Grill by 0.9% during the first quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock valued at $1,378,000 after purchasing an additional 4 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in shares of Chipotle Mexican Grill by 9.8% during the first quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after purchasing an additional 4 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Insider Activity at Chipotle Mexican Grill

In related news, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the sale, the director now directly owns 37,271 shares in the company, valued at approximately $97,221,776.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the transaction, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Albert S. Baldocchi sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the completion of the transaction, the director now owns 37,271 shares in the company, valued at $97,221,776.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,793 shares of company stock worth $18,321,152. Company insiders own 0.96% of the company’s stock.

About Chipotle Mexican Grill

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.