Oppenheimer Equities Analysts Boost Earnings Estimates for Chipotle Mexican Grill, Inc. (NYSE:CMG)

Posted by Defense World Staff on Apr 7th, 2023

Chipotle Mexican Grill, Inc. (NYSE:CMG – Get Rating) – Equities research analysts at Oppenheimer boosted their Q1 2023 earnings per share estimates for Chipotle Mexican Grill in a research report issued to clients and investors on Tuesday, April 4th. Oppenheimer analyst B. Bittner now expects that the restaurant operator will post earnings of $8.98 per share for the quarter, up from their prior forecast of $8.85. Oppenheimer currently has a “Outperform” rating and a $1,940.00 price target on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $41.38 per share. Oppenheimer also issued estimates for Chipotle Mexican Grill’s Q3 2023 earnings at $11.59 EPS, Q4 2023 earnings at $10.20 EPS, FY2023 earnings at $42.59 EPS and FY2024 earnings at $53.23 EPS.

Chipotle Mexican Grill (NYSE:CMG – Get Rating) last announced its quarterly earnings data on Tuesday, February 7th. The restaurant operator reported $8.29 EPS for the quarter, missing analysts’ consensus estimates of $8.88 by ($0.59). The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.23 billion. Chipotle Mexican Grill had a return on equity of 40.96% and a net margin of 10.41%. Chipotle Mexican Grill’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.58 earnings per share.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company boosted their target price on Chipotle Mexican Grill from $1,800.00 to $1,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Raymond James boosted their target price on Chipotle Mexican Grill from $1,750.00 to $1,900.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Chipotle Mexican Grill from $1,713.00 to $1,657.00 and set a “hold” rating for the company in a research report on Monday, February 13th. Argus boosted their target price on Chipotle Mexican Grill from $1,800.00 to $1,900.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Finally, BMO Capital Markets boosted their target price on Chipotle Mexican Grill from $1,600.00 to $1,800.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 8th. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,851.25.

Chipotle Mexican Grill Stock Down 0.7 %

Shares of CMG stock opened at $1,685.21 on Thursday. The stock has a 50-day moving average price of $1,608.95 and a 200 day moving average price of $1,539.64. The firm has a market cap of $46.55 billion, a price-to-earnings ratio of 52.56, a PEG ratio of 1.58 and a beta of 1.32. Chipotle Mexican Grill has a 12 month low of $1,196.28 and a 12 month high of $1,754.56.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Hudson Valley Investment Advisors Inc. ADV increased its holdings in shares of Chipotle Mexican Grill by 19.5% during the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 1,987 shares of the restaurant operator’s stock worth $3,394,000 after acquiring an additional 324 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Chipotle Mexican Grill by 4.2% during the 1st quarter. Empirical Finance LLC now owns 763 shares of the restaurant operator’s stock worth $1,303,000 after acquiring an additional 31 shares during the last quarter. Stonebridge Capital Management Inc. acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $231,000. ETF Managers Group LLC increased its holdings in shares of Chipotle Mexican Grill by 3.9% during the 4th quarter. ETF Managers Group LLC now owns 449 shares of the restaurant operator’s stock worth $623,000 after acquiring an additional 17 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Chipotle Mexican Grill by 5.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 838 shares of the restaurant operator’s stock valued at $1,163,000 after buying an additional 40 shares in the last quarter. 93.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chipotle Mexican Grill

In other news, CMO Christopher W. Brandt sold 584 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $1,595.00, for a total transaction of $931,480.00. Following the sale, the chief marketing officer now owns 7,782 shares in the company, valued at approximately $12,412,290. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CMO Christopher W. Brandt sold 584 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $1,595.00, for a total transaction of $931,480.00. Following the sale, the chief marketing officer now owns 7,782 shares in the company, valued at approximately $12,412,290. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian R. Niccol sold 5,636 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $1,646.82, for a total value of $9,281,477.52. Following the sale, the chief executive officer now owns 23,347 shares in the company, valued at approximately $38,448,306.54. The disclosure for this sale can be found here. Insiders have sold a total of 10,427 shares of company stock worth $17,051,886 in the last 90 days. Corporate insiders own 1.01% of the company’s stock.

About Chipotle Mexican Grill

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Chipotle Mexican Grill, Inc engages in the development and operation of classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. It offers a focused menu of burritos, tacos, burrito bowls, and salads prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Newport Beach, CA.