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

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Stock analysts at William Blair lifted their Q1 2024 earnings per share estimates for shares of Chipotle Mexican Grill in a research report issued to clients and investors on Tuesday, April 16th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings per share of $12.19 for the quarter, up from their previous estimate of $11.47. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $53.38 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.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 EPS for the quarter, topping analysts’ consensus estimates of $9.73 by $0.63. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.49 billion. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.29 earnings per share.

A number of other equities analysts also recently commented on the stock. Truist Financial boosted their target price on shares of Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. UBS Group boosted their target price on shares of Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. BMO Capital Markets upped their price objective on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Citigroup upped their price objective on shares of Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Argus boosted their price objective on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,719.86.

Chipotle Mexican Grill Trading Down 1.4 %

Shares of CMG stock opened at $2,900.71 on Thursday. The firm has a fifty day moving average price of $2,772.86 and a 200 day moving average price of $2,375.00. The company has a market cap of $79.54 billion, a P/E ratio of 65.40, a PEG ratio of 2.51 and a beta of 1.28. Chipotle Mexican Grill has a 12 month low of $1,768.64 and a 12 month high of $3,023.98.

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

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the transaction, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction on 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 transaction, the insider now directly owns 1,529 shares of the company’s stock, valued at $4,009,420.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly 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 quarter, insiders sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently made changes to their positions in CMG. Norges Bank acquired a new position in Chipotle Mexican Grill during the fourth quarter worth about $805,529,000. International Assets Investment Management LLC lifted its stake in Chipotle Mexican Grill by 220,249.6% in the 4th 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 in the last quarter. Moneta Group Investment Advisors LLC acquired a new stake in Chipotle Mexican Grill during the 4th quarter valued at $248,604,000. Morgan Stanley grew its holdings in Chipotle Mexican Grill by 65.8% during the 4th quarter. Morgan Stanley now owns 375,736 shares of the restaurant operator’s stock valued at $521,332,000 after buying an additional 149,115 shares during the last quarter. Finally, Wellington Management Group LLP increased 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 worth $727,570,000 after buying an additional 116,723 shares in the last quarter. 91.31% of the stock is currently 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.