Wedbush Has Bullish Forecast for CMG FY2024 Earnings

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Stock analysts at Wedbush boosted their FY2024 EPS estimates for shares of Chipotle Mexican Grill in a research report issued on Wednesday, October 30th. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings of $1.11 per share for the year, up from their previous estimate of $1.09. Wedbush currently has a “Outperform” rating and a $69.00 price objective on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $1.08 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s Q4 2024 earnings at $0.24 EPS and Q4 2025 earnings at $0.31 EPS.

Other equities analysts have also issued research reports about the stock. Stephens decreased their price target on shares of Chipotle Mexican Grill from $66.00 to $65.00 and set an “equal weight” rating for the company in a report on Wednesday. Piper Sandler upped their target price on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday. Robert W. Baird upped their target price on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com lowered shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $67.00 target price on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.47.

Chipotle Mexican Grill Stock Up 0.1 %

Shares of CMG stock opened at $55.77 on Thursday. Chipotle Mexican Grill has a 12-month low of $38.01 and a 12-month high of $69.26. The firm has a market capitalization of $76.38 billion, a price-to-earnings ratio of 54.68, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. The firm has a fifty day moving average of $57.18 and a 200-day moving average of $81.14.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the business earned $0.23 EPS. The firm’s revenue was up 13.0% on a year-over-year basis.

Insider Activity

In other news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the sale, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the sale, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the sale, the director now directly owns 41,510 shares in the company, 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. In the last ninety days, insiders have sold 50,684 shares of company stock valued at $2,817,127. 1.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CMG. Valeo Financial Advisors LLC raised its holdings in Chipotle Mexican Grill by 84.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 416 shares of the restaurant operator’s stock valued at $1,210,000 after acquiring an additional 190 shares during the period. Valley National Advisers Inc. raised its holdings in Chipotle Mexican Grill by 9.8% in the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after acquiring an additional 4 shares during the period. Norden Group LLC bought a new position in Chipotle Mexican Grill in the 1st quarter valued at about $2,163,000. Westside Investment Management Inc. bought a new position in Chipotle Mexican Grill in the 1st quarter valued at about $58,000. Finally, First Trust Direct Indexing L.P. raised its holdings in Chipotle Mexican Grill by 14.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 458 shares of the restaurant operator’s stock valued at $1,331,000 after acquiring an additional 59 shares during the period. 91.31% of the stock is owned by institutional investors.

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.