William Blair Has Positive Forecast for CMG FY2024 Earnings

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Analysts at William Blair boosted their FY2024 earnings estimates for Chipotle Mexican Grill in a research note issued on Tuesday, October 29th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings of $1.11 per share for the year, up from their previous forecast of $1.08. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $1.10 per share. William Blair also issued estimates for Chipotle Mexican Grill’s Q4 2024 earnings at $0.24 EPS.

A number of other research firms have also commented on CMG. Robert W. Baird upped their price target on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial upped their price target on shares of Chipotle Mexican Grill from $71.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. Loop Capital upped their price objective on shares of Chipotle Mexican Grill from $53.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Finally, Wells Fargo & Company increased their price target on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday. Ten research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.47.

Chipotle Mexican Grill Stock Up 5.1 %

Shares of NYSE CMG opened at $58.59 on Thursday. The firm’s fifty day moving average is $57.28 and its 200 day moving average is $81.14. Chipotle Mexican Grill has a 52 week low of $39.92 and a 52 week high of $69.26. The company has a market cap of $80.24 billion, a price-to-earnings ratio of 54.53, a PEG ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS.

Insider Activity at Chipotle Mexican Grill

In related news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the transaction, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the sale, the insider now owns 457,764 shares of the company’s stock, valued at $26,115,436.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Curtis E. Garner sold 17,394 shares of the 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 completion of the sale, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,684 shares of company stock worth $2,817,127 in the last three months. 1.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Hedge funds have recently bought and sold shares of the stock. Semmax Financial Advisors Inc. raised its position in shares of Chipotle Mexican Grill by 225.0% during the 1st quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 9 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $44,000. Westside Investment Management Inc. acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $58,000. Valley National Advisers Inc. raised its position in shares of Chipotle Mexican Grill by 9.8% during the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock worth $131,000 after acquiring an additional 4 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $168,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Company Profile

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.