Chipotle Mexican Grill, Inc. (NYSE:CMG) Forecasted to Earn Q3 2024 Earnings of $13.81 Per Share

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Investment analysts at Wedbush lifted their Q3 2024 earnings per share estimates for shares of Chipotle Mexican Grill in a research report issued on Thursday, April 25th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings per share of $13.81 for the quarter, up from their previous forecast of $13.61. 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 $55.08 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s FY2024 earnings at $56.08 EPS, Q1 2025 earnings at $15.74 EPS, Q3 2025 earnings at $17.25 EPS and Q4 2025 earnings at $16.98 EPS.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.67 billion.

A number of other brokerages have also recently issued reports on CMG. Evercore ISI increased their target price 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, April 25th. KeyCorp lifted their target price on Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. BMO Capital Markets increased their price target on shares of Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. Truist Financial boosted their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,440.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, UBS Group increased their target price on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average target price of $3,137.12.

Chipotle Mexican Grill Trading Up 0.6 %

Shares of Chipotle Mexican Grill stock opened at $3,206.43 on Monday. Chipotle Mexican Grill has a 12 month low of $1,768.64 and a 12 month high of $3,241.42. The business’s fifty day simple moving average is $2,835.11 and its 200 day simple moving average is $2,444.44. The firm has a market capitalization of $88.08 billion, a P/E ratio of 68.43, a price-to-earnings-growth ratio of 2.58 and a beta of 1.28.

Chipotle Mexican Grill shares are set 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 distributed to shareholders after the market closes on Tuesday, June 25th.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was 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 directly owns 1,529 shares in the company, valued at approximately $4,009,420.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the transaction, the insider now directly owns 1,529 shares of the company’s stock, valued at approximately $4,009,420.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 15,812 shares of company stock worth $48,554,701. Insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $805,529,000. International Assets Investment Management LLC increased its holdings in shares of 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 worth $6,903,850,000 after purchasing an additional 301,742 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Chipotle Mexican Grill by 41.6% in the third quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock worth $727,570,000 after buying an additional 116,723 shares in the last quarter. Global Assets Advisory LLC bought a new position in Chipotle Mexican Grill during the first quarter valued at approximately $167,256,000. Finally, 1832 Asset Management L.P. purchased a new position in Chipotle Mexican Grill during the 4th quarter valued at approximately $100,535,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.