Chipotle Mexican Grill, Inc. (NYSE:CMG) to Post FY2023 Earnings of $44.29 Per Share, Wedbush Forecasts

Posted by Defense World Staff on Jun 23rd, 2023

Chipotle Mexican Grill, Inc. (NYSE:CMG – Get Rating) – Equities research analysts at Wedbush raised their FY2023 earnings per share (EPS) estimates for Chipotle Mexican Grill in a report issued on Wednesday, June 21st. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings per share of $44.29 for the year, up from their previous forecast of $43.03. Wedbush currently has a “Outperform” rating and a $2,300.00 target price on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $43.87 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s Q1 2024 earnings at $12.45 EPS, Q2 2024 earnings at $15.26 EPS and FY2024 earnings at $53.80 EPS.

Chipotle Mexican Grill (NYSE:CMG – Get Rating) last announced its earnings results on Tuesday, April 25th. The restaurant operator reported $10.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.89 by $1.61. Chipotle Mexican Grill had a return on equity of 45.01% and a net margin of 11.49%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the firm posted $5.70 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis.

Other analysts also recently issued research reports about the company. Truist Financial lifted their price objective on Chipotle Mexican Grill from $1,960.00 to $2,270.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Credit Suisse Group lifted their target price on Chipotle Mexican Grill from $2,050.00 to $2,200.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Wells Fargo & Company lifted their target price on Chipotle Mexican Grill from $1,900.00 to $2,050.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Evercore ISI boosted their price objective on Chipotle Mexican Grill from $2,000.00 to $2,100.00 in a report on Wednesday, April 26th. Finally, Oppenheimer boosted their price objective on Chipotle Mexican Grill from $1,940.00 to $2,050.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Six analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,051.00.

Chipotle Mexican Grill Trading Down 1.2 %

Shares of CMG opened at $2,049.26 on Thursday. The business’s 50 day moving average is $2,011.65 and its 200 day moving average is $1,716.48. The company has a market capitalization of $56.54 billion, a PE ratio of 55.43, a price-to-earnings-growth ratio of 1.46 and a beta of 1.34. Chipotle Mexican Grill has a 12-month low of $1,233.61 and a 12-month high of $2,139.88.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Chipotle Mexican Grill during the 4th quarter valued at $450,560,000. International Assets Investment Management LLC lifted its stake in shares of Chipotle Mexican Grill by 185,417.0% during the 4th quarter. International Assets Investment Management LLC now owns 306,103 shares of the restaurant operator’s stock worth $1,645,000 after purchasing an additional 305,938 shares during the period. Old North State Trust LLC lifted its stake in shares of Chipotle Mexican Grill by 82,050.6% during the 1st quarter. Old North State Trust LLC now owns 257,953 shares of the restaurant operator’s stock worth $572,000 after purchasing an additional 257,639 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter worth $10,948,000. Finally, Moneta Group Investment Advisors LLC purchased a new position in shares of Chipotle Mexican Grill during the 4th quarter worth $248,604,000. Institutional investors and hedge funds own 91.91% of the company’s stock.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Laurie Schalow sold 3,658 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $2,066.73, for a total transaction of $7,560,098.34. Following the completion of the transaction, the insider now directly owns 1,637 shares of the company’s stock, valued at approximately $3,383,237.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Laurie Schalow sold 3,658 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $2,066.73, for a total transaction of $7,560,098.34. Following the completion of the transaction, the insider now directly owns 1,637 shares of the company’s stock, valued at approximately $3,383,237.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brian R. Niccol sold 1,023 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $1,695.00, for a total value of $1,733,985.00. Following the transaction, the chief executive officer now directly owns 23,347 shares of the company’s stock, valued at $39,573,165. The disclosure for this sale can be found here. Insiders sold a total of 12,346 shares of company stock valued at $24,704,401 in the last ninety days. Insiders own 0.96% of the company’s stock.

About Chipotle Mexican Grill

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Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It offers burritos, burrito bowls, quesadillas, tacos, and salads. The company was founded in 1993 and is headquartered in Newport Beach, California.