Chipotle Mexican Grill (NYSE:CMG) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Chipotle Mexican Grill (NYSE:CMG) issued its quarterly earnings data on Tuesday. The restaurant operator reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02, Briefing.com reports. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock traded down $4.14 during trading hours on Wednesday, hitting $56.35. 11,897,145 shares of the company’s stock traded hands, compared to its average volume of 13,922,522. The company has a fifty day simple moving average of $57.10 and a 200-day simple moving average of $81.50. The stock has a market capitalization of $77.17 billion, a price-to-earnings ratio of 55.48, a PEG ratio of 2.41 and a beta of 1.25. Chipotle Mexican Grill has a 12-month low of $38.01 and a 12-month high of $69.26.

Analyst Upgrades and Downgrades

CMG has been the topic of a number of recent analyst reports. Stephens reissued an “equal weight” rating and issued a $61.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. BMO Capital Markets upped their price target on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday. Evercore ISI upped their price target on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Barclays raised their target price on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Piper Sandler raised their price objective on Chipotle Mexican Grill from $56.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.62.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $57.05, for a total value of $898,537.50. Following the sale, the insider now owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the transaction, the insider now directly owns 457,764 shares in the company, valued at $26,115,436.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the transaction, the director now owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,684 shares of company stock worth $2,817,127. 1.02% of the stock is owned by company insiders.

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.