Zacks Research Analysts Lower Earnings Estimates for Chipotle Mexican Grill, Inc. (NYSE:CMG)

Posted by Defense World Staff on Sep 8th, 2023

Chipotle Mexican Grill, Inc. (NYSE:CMG – Free Report) – Equities researchers at Zacks Research lowered their Q3 2024 earnings estimates for shares of Chipotle Mexican Grill in a report issued on Tuesday, September 5th. Zacks Research analyst H. Ray now anticipates that the restaurant operator will post earnings per share of $13.16 for the quarter, down from their previous estimate of $13.22. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $43.06 per share. Zacks Research also issued estimates for Chipotle Mexican Grill’s Q4 2024 earnings at $12.06 EPS.

Several other research firms also recently issued reports on CMG. Citigroup lifted their price target on shares of Chipotle Mexican Grill from $2,240.00 to $2,454.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Wells Fargo & Company cut their price objective on shares of Chipotle Mexican Grill from $2,400.00 to $2,200.00 in a report on Thursday, July 27th. TD Cowen cut their price objective on shares of Chipotle Mexican Grill from $2,350.00 to $2,200.00 and set an “outperform” rating on the stock in a report on Thursday, July 27th. Truist Financial cut their price objective on shares of Chipotle Mexican Grill from $2,310.00 to $2,230.00 and set a “buy” rating on the stock in a report on Thursday, July 27th. Finally, Royal Bank of Canada cut their price objective on shares of Chipotle Mexican Grill from $2,300.00 to $2,250.00 and set an “outperform” rating on the stock in a report on Thursday, July 27th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus price target of $2,144.71.

View Our Latest Research Report on CMG

Chipotle Mexican Grill Trading Up 0.7 %

NYSE CMG opened at $1,967.89 on Thursday. The company has a fifty day simple moving average of $1,974.26 and a 200 day simple moving average of $1,890.93. Chipotle Mexican Grill has a 12-month low of $1,344.05 and a 12-month high of $2,175.01. The company has a market cap of $54.29 billion, a P/E ratio of 49.15, a PEG ratio of 1.68 and a beta of 1.30.

Chipotle Mexican Grill (NYSE:CMG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The restaurant operator reported $12.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.25 by $0.40. Chipotle Mexican Grill had a net margin of 12.00% and a return on equity of 45.85%. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter last year, the firm posted $9.30 EPS. Chipotle Mexican Grill’s revenue was up 13.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cerity Partners LLC grew its holdings in shares of Chipotle Mexican Grill by 5.0% during the first quarter. Cerity Partners LLC now owns 2,910 shares of the restaurant operator’s stock worth $13,299,000 after purchasing an additional 138 shares in the last quarter. Van ECK Associates Corp boosted its stake in Chipotle Mexican Grill by 3.9% in the first quarter. Van ECK Associates Corp now owns 3,311 shares of the restaurant operator’s stock worth $5,656,000 after buying an additional 124 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Chipotle Mexican Grill by 2.8% in the first quarter. First Trust Direct Indexing L.P. now owns 439 shares of the restaurant operator’s stock worth $750,000 after buying an additional 12 shares in the last quarter. Czech National Bank boosted its stake in Chipotle Mexican Grill by 0.3% in the first quarter. Czech National Bank now owns 3,254 shares of the restaurant operator’s stock worth $5,559,000 after buying an additional 9 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its stake in Chipotle Mexican Grill by 55.3% in the first quarter. Simplicity Solutions LLC now owns 733 shares of the restaurant operator’s stock worth $1,252,000 after buying an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 91.19% of the company’s stock.

Insider Activity

In other news, CEO Brian R. Niccol sold 1,063 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $1,949.84, for a total transaction of $2,072,679.92. Following the sale, the chief executive officer now directly owns 23,347 shares in the company, valued at $45,522,914.48. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Brian R. Niccol sold 1,063 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $1,949.84, for a total transaction of $2,072,679.92. Following the sale, the chief executive officer now directly owns 23,347 shares in the company, valued at $45,522,914.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brian R. Niccol sold 1,058 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $1,928.16, for a total value of $2,039,993.28. Following the sale, the chief executive officer now owns 23,347 shares in the company, valued at $45,016,751.52. The disclosure for this sale can be found here. Insiders have sold a total of 3,207 shares of company stock worth $6,434,541 over the last ninety days. Company 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.