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

Chipotle Mexican Grill, Inc. (NYSE:CMG) – William Blair boosted their Q1 2024 earnings per share estimates for shares of Chipotle Mexican Grill in a report released 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 $53.38 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 announced its quarterly earnings data on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) for the quarter, topping 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 business posted $8.29 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis.

Several other brokerages have also recently issued reports on CMG. Stifel Nicolaus raised their price objective on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Wedbush raised their target price on Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. BMO Capital Markets raised their target price on 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. Morgan Stanley raised their target price on Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Finally, Citigroup raised their target price on 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. Eleven research 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.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average price target of $2,719.86.

Chipotle Mexican Grill Price Performance

Shares of CMG opened at $2,900.71 on Thursday. The business’s fifty day moving average price is $2,772.86 and its 200 day moving average price is $2,375.00. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,023.98. The stock has a market capitalization of $79.54 billion, a PE ratio of 65.40, a price-to-earnings-growth ratio of 2.51 and a beta of 1.28.

Chipotle Mexican Grill’s stock is scheduled 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 closing bell on Tuesday, June 25th.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Evermay Wealth Management LLC boosted its position in shares of Chipotle Mexican Grill by 1.8% in the 4th quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after purchasing an additional 4 shares during the period. Peloton Wealth Strategists boosted its position in Chipotle Mexican Grill by 0.3% during the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock worth $3,318,000 after acquiring an additional 4 shares during the period. Coldstream Capital Management Inc. boosted its position in Chipotle Mexican Grill by 1.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 382 shares of the restaurant operator’s stock worth $700,000 after acquiring an additional 5 shares during the period. Clearstead Advisors LLC boosted its position in Chipotle Mexican Grill by 0.7% during the 3rd quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock worth $1,416,000 after acquiring an additional 5 shares during the period. Finally, Horizon Bancorp Inc. IN boosted its position in Chipotle Mexican Grill by 5.2% during the 4th quarter. Horizon Bancorp Inc. IN now owns 101 shares of the restaurant operator’s stock worth $231,000 after acquiring an additional 5 shares during the period. Institutional investors and hedge funds own 91.31% of the company’s stock.

Insider Buying and Selling

In related news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction dated 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 transaction, the insider now directly owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the completion of the transaction, the director now owns 37,271 shares in the company, valued at approximately $97,221,776.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the 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 transaction, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. Insiders have sold a total of 6,793 shares of company stock valued at $18,321,152 over the last three months. 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.