William Blair Weighs in on Chipotle Mexican Grill, Inc.’s Q2 2024 Earnings (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Stock analysts at William Blair boosted their Q2 2024 earnings estimates for Chipotle Mexican Grill in a research report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings of $15.52 per share for the quarter, up from their prior forecast 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.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion.

Several other equities analysts also recently issued reports on CMG. BTIG Research boosted their price target on shares of Chipotle Mexican Grill from $3,250.00 to $3,350.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Sanford C. Bernstein upped their price objective on shares of Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Jefferies Financial Group upped their price objective on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. TD Cowen upped their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $3,340.00 price objective (up previously from $3,300.00) on shares of Chipotle Mexican Grill in a report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $3,156.12 on Monday. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,241.42. The company has a market cap of $86.70 billion, a price-to-earnings ratio of 67.35, a price-to-earnings-growth ratio of 2.58 and a beta of 1.28. The firm has a fifty day moving average of $2,846.57 and a 200-day moving average of $2,454.12.

Chipotle Mexican Grill shares are going to split 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 market closes on Tuesday, June 25th.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently made changes to their positions in the company. J.W. Cole Advisors Inc. bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at approximately $640,000. Vantage Investment Partners LLC grew its stake in shares of Chipotle Mexican Grill by 18.3% in the 1st quarter. Vantage Investment Partners LLC now owns 17,490 shares of the restaurant operator’s stock valued at $50,838,000 after buying an additional 2,710 shares in the last quarter. Norden Group LLC bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at approximately $2,163,000. Dillon & Associates Inc. grew its stake in shares of Chipotle Mexican Grill by 1.1% in the 1st quarter. Dillon & Associates Inc. now owns 3,773 shares of the restaurant operator’s stock valued at $10,968,000 after buying an additional 40 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Chipotle Mexican Grill by 30.1% in the 1st quarter. Van ECK Associates Corp now owns 5,778 shares of the restaurant operator’s stock valued at $16,795,000 after buying an additional 1,336 shares in the last quarter. Institutional investors own 91.31% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian R. Niccol sold 6,406 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $3,185.92, for a total value of $20,409,003.52. Following the transaction, the chief executive officer now owns 22,669 shares in the company, valued at approximately $72,221,620.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Roger E. Theodoredis sold 898 shares of the company’s stock in a transaction dated 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 owns 1,529 shares in the company, valued at approximately $4,009,420.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian R. Niccol sold 6,406 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $3,185.92, for a total value of $20,409,003.52. Following the completion of the transaction, the chief executive officer now owns 22,669 shares in the company, valued at approximately $72,221,620.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,812 shares of company stock worth $48,554,701. Company 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.