Q2 2024 EPS Estimates for Chipotle Mexican Grill, Inc. Raised by Analyst (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Stock analysts at William Blair boosted their Q2 2024 EPS estimates for shares of Chipotle Mexican Grill in a research report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $15.52 per share for the quarter, up from their previous estimate of $14.65. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $55.08 per share. William Blair also issued estimates for Chipotle Mexican Grill’s Q3 2024 earnings at $13.61 EPS, Q4 2024 earnings at $11.51 EPS, FY2024 earnings at $54.01 EPS and FY2025 earnings at $67.19 EPS.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group boosted their price objective on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. BTIG Research lifted their price target on Chipotle Mexican Grill from $3,250.00 to $3,350.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI upped their price objective on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $3,300.00 price target (up previously from $2,825.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $3,137.12.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $3,186.97 on Monday. The firm has a 50 day moving average price of $2,822.95 and a 200 day moving average price of $2,434.49. The stock has a market cap of $87.55 billion, a P/E ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99.

Chipotle Mexican Grill shares are set to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results 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. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at $805,529,000. International Assets Investment Management LLC lifted its holdings in Chipotle Mexican Grill by 220,249.6% in the fourth quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock valued at $6,903,850,000 after buying an additional 301,742 shares during the period. Wellington Management Group LLP boosted its position in Chipotle Mexican Grill by 41.6% during the third quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock valued at $727,570,000 after acquiring an additional 116,723 shares during the last quarter. Global Assets Advisory LLC bought a new stake in Chipotle Mexican Grill during the first quarter valued at $167,256,000. Finally, 1832 Asset Management L.P. bought a new position in shares of Chipotle Mexican Grill in the 4th quarter worth about $100,535,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill stock in a transaction on 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 transaction, the director now owns 37,271 shares in the company, valued at approximately $97,221,776.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Albert S. Baldocchi sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were 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 directly owns 37,271 shares in the company, valued at approximately $97,221,776.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the sale, the insider now owns 1,529 shares in the company, valued at approximately $4,009,420.25. The disclosure for this sale can be found here. Insiders sold a total of 4,797 shares of company stock worth $13,530,931 over the last three months. Corporate 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.