Q1 2024 EPS Estimates for Chipotle Mexican Grill, Inc. (NYSE:CMG) Raised by Analyst

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Research analysts at William Blair boosted their Q1 2024 earnings estimates for Chipotle Mexican Grill in a research report issued to clients and investors on Tuesday, April 16th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will earn $12.19 per share for the quarter, up from their previous estimate of $11.47. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $53.36 per share. William Blair also issued estimates for Chipotle Mexican Grill’s Q2 2024 earnings at $14.65 EPS, Q3 2024 earnings at $13.40 EPS, Q4 2024 earnings at $12.68 EPS, FY2024 earnings at $52.92 EPS and FY2025 earnings at $65.62 EPS.

CMG has been the topic of several other research reports. Raymond James boosted their target price on Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. TD Cowen restated a “buy” rating and issued a $2,900.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, April 10th. Robert W. Baird reaffirmed an “outperform” rating and set a $2,650.00 target price on shares of Chipotle Mexican Grill in a report on Monday, January 22nd. Truist Financial boosted their price objective 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. Finally, Wells Fargo & Company raised their target price on shares of Chipotle Mexican Grill from $2,600.00 to $2,800.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $2,759.14.

Chipotle Mexican Grill Stock Down 1.3 %

Shares of NYSE CMG opened at $2,870.07 on Thursday. The stock has a market cap of $78.70 billion, a P/E ratio of 64.71, a P/E/G ratio of 2.46 and a beta of 1.28. The firm’s 50-day simple moving average is $2,783.24 and its 200 day simple moving average is $2,385.67. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,023.98.

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 payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its 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. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm earned $8.29 EPS. The firm’s revenue was up 15.4% compared to the same quarter last year.

Insider Buying and Selling

In other news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction dated 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 transaction, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Albert S. Baldocchi sold 750 shares of the company’s stock in a transaction 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 sale, the director now directly owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the transaction, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,793 shares of company stock worth $18,321,152. Corporate 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 added to or reduced their stakes in CMG. Evermay Wealth Management LLC boosted its position in shares of Chipotle Mexican Grill by 1.8% in the fourth quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after acquiring an additional 4 shares during the period. Peloton Wealth Strategists grew its position in Chipotle Mexican Grill by 0.3% in the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock worth $3,318,000 after purchasing an additional 4 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Chipotle Mexican Grill by 0.9% during the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock worth $1,378,000 after purchasing an additional 4 shares during the period. Valley National Advisers Inc. raised its position 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 buying an additional 4 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of Chipotle Mexican Grill by 1.3% during the third quarter. Coldstream Capital Management Inc. now owns 382 shares of the restaurant operator’s stock valued at $700,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds own 91.31% 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.