Q2 2024 Earnings Estimate for Chipotle Mexican Grill, Inc. Issued By Wedbush (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Analysts at Wedbush upped their Q2 2024 earnings per share (EPS) estimates for shares of Chipotle Mexican Grill in a research report issued to clients and investors on Thursday, April 25th. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of $15.39 for the quarter, up from their previous forecast of $14.74. Wedbush currently has a “Neutral” rating and a $3,200.00 price target on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $53.49 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s Q2 2025 earnings at $18.59 EPS and FY2025 earnings at $68.56 EPS.

Several other brokerages have also issued reports on CMG. KeyCorp raised their target price on Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the stock an “overweight” rating in a research report on Thursday. Stephens raised their target price on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the stock an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on Chipotle Mexican Grill from $2,500.00 to $2,750.00 and gave the stock a “neutral” rating in a research report on Thursday. Piper Sandler raised their target price on Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the stock a “buy” rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3,137.12.

Chipotle Mexican Grill Stock Up 2.5 %

NYSE CMG opened at $3,189.40 on Friday. Chipotle Mexican Grill has a twelve month low of $1,768.64 and a twelve month high of $3,199.99. The company has a market cap of $87.60 billion, a price-to-earnings ratio of 68.06, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. The business’s fifty day moving average is $2,822.95 and its 200 day moving average is $2,426.07.

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

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, beating the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently added to or reduced their stakes in CMG. Steph & Co. acquired a new position in Chipotle Mexican Grill during the 1st quarter valued at about $29,000. Fortitude Family Office LLC acquired a new position in Chipotle Mexican Grill during the 4th quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC acquired a new position in Chipotle Mexican Grill during the 4th quarter valued at about $37,000. ICA Group Wealth Management LLC acquired a new position in Chipotle Mexican Grill during the 4th quarter valued at about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Chipotle Mexican Grill during the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Insider Activity at Chipotle Mexican Grill

In related news, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the completion of the sale, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the completion of the sale, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher W. Brandt sold 3,149 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. Insiders sold 6,793 shares of company stock valued at $18,321,152 in the last three months. Corporate insiders own 0.96% of the company’s stock.

About Chipotle Mexican Grill

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.