Chipotle Mexican Grill, Inc. (NYSE:CMG) Forecasted to Post Q1 2024 Earnings of $12.19 Per Share

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Investment analysts at William Blair upped their Q1 2024 earnings per share estimates for shares of Chipotle Mexican Grill in a research note issued to investors 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 $53.41 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.

A number of other equities analysts have also recently weighed in on CMG. Oppenheimer upped their price objective on shares of Chipotle Mexican Grill from $2,225.00 to $2,525.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $2,650.00 price target on shares of Chipotle Mexican Grill in a research report on Monday, January 22nd. Barclays increased their price target on shares of Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. BMO Capital Markets increased their price target on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Finally, Piper Sandler increased their price target on shares of Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 16th. Eleven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average target price of $2,759.14.

Chipotle Mexican Grill Price Performance

NYSE:CMG opened at $2,907.97 on Thursday. The firm has a 50-day moving average of $2,778.61 and a two-hundred day moving average of $2,378.70. The stock has a market cap of $79.74 billion, a P/E ratio of 65.57, a PEG ratio of 2.51 and a beta of 1.28. Chipotle Mexican Grill has a 1-year low of $1,768.64 and a 1-year high of $3,023.98.

Chipotle Mexican Grill’s stock is set to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be issued to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm earned $8.29 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 37,271 shares in the company, valued at $97,221,776.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the transaction, the director now owns 37,271 shares in the company, valued at $97,221,776.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Evermay Wealth Management LLC increased its stake in shares of Chipotle Mexican Grill by 1.8% during the fourth quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after acquiring an additional 4 shares during the period. Peloton Wealth Strategists grew its position in Chipotle Mexican Grill by 0.3% in the fourth quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock worth $3,318,000 after buying an additional 4 shares during the last quarter. Diversified Trust Co grew its position in Chipotle Mexican Grill by 0.9% in the first quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock worth $1,378,000 after buying an additional 4 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Chipotle Mexican Grill by 1.3% in the third quarter. Coldstream Capital Management Inc. now owns 382 shares of the restaurant operator’s stock worth $700,000 after buying an additional 5 shares during the last quarter. Finally, Clearstead Advisors LLC grew its position in Chipotle Mexican Grill by 0.7% in the third quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock worth $1,416,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds own 91.31% 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.