Wedbush Equities Analysts Raise Earnings Estimates for CMG

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Stock analysts at Wedbush raised their FY2024 earnings per share estimates for Chipotle Mexican Grill in a research note issued on Wednesday, October 30th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will post earnings per share of $1.11 for the year, up from their previous estimate of $1.09. Wedbush currently has a “Outperform” rating and a $69.00 target price on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $1.08 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s Q4 2024 earnings at $0.24 EPS and Q4 2025 earnings at $0.31 EPS.

Other equities research analysts also recently issued reports about the company. Truist Financial lifted their target price on Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $67.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. BMO Capital Markets lifted their target price on Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday. TD Cowen lifted their target price on Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Piper Sandler lifted their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $64.47.

Chipotle Mexican Grill Stock Up 0.1 %

CMG stock opened at $55.77 on Thursday. Chipotle Mexican Grill has a twelve month low of $38.01 and a twelve month high of $69.26. The company has a market cap of $76.38 billion, a PE ratio of 54.68, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. The business’s 50-day simple moving average is $57.18 and its 200 day simple moving average is $81.14.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share.

Insider Activity

In other news, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the transaction, the insider now owns 457,764 shares in the company, valued at approximately $26,115,436.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the transaction, the director now owns 41,510 shares in the company, valued at $2,340,333.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,684 shares of company stock worth $2,817,127. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CMG. Valeo Financial Advisors LLC raised its position in Chipotle Mexican Grill by 84.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 416 shares of the restaurant operator’s stock worth $1,210,000 after purchasing an additional 190 shares during the last quarter. 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 valued at $131,000 after acquiring an additional 4 shares during the last quarter. Norden Group LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at $2,163,000. Westside Investment Management Inc. bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at $58,000. Finally, First Trust Direct Indexing L.P. raised its position in shares of Chipotle Mexican Grill by 14.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 458 shares of the restaurant operator’s stock valued at $1,331,000 after acquiring an additional 59 shares during the last quarter. Institutional investors 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.