Equities Analysts Issue Forecasts for Chipotle Mexican Grill, Inc.’s Q3 2024 Earnings (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Research analysts at Wedbush raised their Q3 2024 EPS estimates for Chipotle Mexican Grill in a note issued to investors on Thursday, April 25th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $13.81 per share for the quarter, up from their prior forecast of $13.61. Wedbush currently has a “Neutral” rating and a $3,200.00 target price on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $55.08 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s FY2024 earnings at $56.08 EPS, Q1 2025 earnings at $15.74 EPS, Q3 2025 earnings at $17.25 EPS and Q4 2025 earnings at $16.98 EPS.

A number of other research analysts also recently commented on the stock. UBS Group upped their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a “buy” rating in a research note on Thursday. KeyCorp increased their price target on shares of Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the stock an “overweight” rating in a research note on Thursday. Argus boosted their price objective on shares of 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. Stifel Nicolaus increased their target price on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, Truist Financial lifted their target price on Chipotle Mexican Grill from $3,250.00 to $3,440.00 and gave the company a “buy” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,137.12.

Chipotle Mexican Grill Trading Up 2.4 %

Chipotle Mexican Grill stock opened at $3,186.97 on Monday. The stock has a fifty day moving average price of $2,822.95 and a 200 day moving average price of $2,434.49. Chipotle Mexican Grill has a 52 week low of $1,768.64 and a 52 week high of $3,199.99. The firm has a market capitalization of $87.55 billion, a P/E ratio of 68.01, a PEG ratio of 2.67 and a beta of 1.28.

Chipotle Mexican Grill shares are going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results 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 43.74% and a net margin of 12.70%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently modified their holdings of CMG. Northwest Bancshares Inc. acquired a new position in Chipotle Mexican Grill in the first quarter worth about $331,000. SlateStone Wealth LLC acquired a new position in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $265,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at approximately $230,000. Emerald Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $872,000. Finally, Meridian Wealth Management LLC lifted its stake in Chipotle Mexican Grill by 4.0% during the first quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock worth $680,000 after purchasing an additional 9 shares during the last quarter. Institutional investors own 91.31% of the company’s stock.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the company’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 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 this link. In related news, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the completion of the sale, the director now owns 37,271 shares in the company, valued at $97,221,776.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $9,219,768.16. Following the completion of the sale, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,797 shares of company stock valued at $13,530,931. Corporate 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.