Q3 2019 EPS Estimates for Chipotle Mexican Grill, Inc. Raised by SunTrust Banks (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Equities researchers at SunTrust Banks raised their Q3 2019 EPS estimates for shares of Chipotle Mexican Grill in a note issued to investors on Thursday, October 17th. SunTrust Banks analyst J. Bartlett now forecasts that the restaurant operator will earn $3.36 per share for the quarter, up from their prior forecast of $3.31. SunTrust Banks currently has a “Buy” rating and a $920.00 target price on the stock. SunTrust Banks also issued estimates for Chipotle Mexican Grill’s FY2019 earnings at $14.17 EPS.

A number of other brokerages have also weighed in on CMG. Jefferies Financial Group boosted their price objective on shares of Chipotle Mexican Grill from $700.00 to $820.00 and gave the stock a “hold” rating in a report on Wednesday, September 25th. Goldman Sachs Group set a $1,000.00 price objective on shares of Chipotle Mexican Grill and gave the stock a “buy” rating in a report on Friday, August 30th. Mizuho boosted their price objective on shares of Chipotle Mexican Grill from $420.00 to $500.00 and gave the stock an “underperform” rating in a report on Wednesday, July 24th. Loop Capital boosted their price objective on shares of Chipotle Mexican Grill to $950.00 and gave the stock a “buy” rating in a report on Monday. Finally, ValuEngine lowered shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $753.68.

Shares of CMG opened at $831.07 on Monday. The firm has a market cap of $23.33 billion, a price-to-earnings ratio of 91.73, a PEG ratio of 3.40 and a beta of 0.70. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.48 and a current ratio of 1.52. Chipotle Mexican Grill has a fifty-two week low of $383.20 and a fifty-two week high of $857.90. The firm has a 50 day moving average price of $824.58 and a 200-day moving average price of $759.74.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $3.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.13 by $0.69. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.38 billion. Chipotle Mexican Grill had a net margin of 4.80% and a return on equity of 21.50%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.16 EPS.

A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its position in Chipotle Mexican Grill by 22.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,791,499 shares of the restaurant operator’s stock valued at $1,312,954,000 after purchasing an additional 331,100 shares during the period. BlackRock Inc. grew its position in shares of Chipotle Mexican Grill by 7.7% in the 2nd quarter. BlackRock Inc. now owns 1,699,029 shares of the restaurant operator’s stock worth $1,245,187,000 after buying an additional 121,606 shares during the period. Jennison Associates LLC grew its position in shares of Chipotle Mexican Grill by 7.6% in the 2nd quarter. Jennison Associates LLC now owns 927,804 shares of the restaurant operator’s stock worth $679,969,000 after buying an additional 65,485 shares during the period. Independent Franchise Partners LLP grew its position in shares of Chipotle Mexican Grill by 1.0% in the 2nd quarter. Independent Franchise Partners LLP now owns 596,427 shares of the restaurant operator’s stock worth $437,109,000 after buying an additional 5,730 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of Chipotle Mexican Grill by 71,232.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 470,797 shares of the restaurant operator’s stock worth $345,037,000 after buying an additional 470,137 shares during the period. 92.04% of the stock is currently owned by institutional investors and hedge funds.

In other Chipotle Mexican Grill news, CTO Curtis E. Garner sold 1,272 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $850.00, for a total transaction of $1,081,200.00. Following the transaction, the chief technology officer now directly owns 7,280 shares of the company’s stock, valued at approximately $6,188,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Steve Ells sold 28,645 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $802.66, for a total transaction of $22,992,195.70. Following the transaction, the insider now directly owns 183,580 shares in the company, valued at $147,352,322.80. The disclosure for this sale can be found here. Insiders have sold a total of 113,531 shares of company stock valued at $91,910,364 over the last quarter. 2.21% of the stock is currently owned by company insiders.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Earnings History and Estimates for Chipotle Mexican Grill (NYSE:CMG)

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