What is William Blair’s Forecast for CMG FY2024 Earnings?

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Research analysts at William Blair boosted their FY2024 earnings per share estimates for shares of Chipotle Mexican Grill in a research report issued to clients and investors on Tuesday, October 29th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings per share of $1.11 for the year, up from their prior estimate of $1.08. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $1.08 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 also recently weighed in on CMG. Raymond James decreased their price target on Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. The Goldman Sachs Group decreased their price target on Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Wedbush restated an “outperform” rating and issued a $69.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $67.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Finally, TD Cowen boosted 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. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus price target of $64.47.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock opened at $55.77 on Thursday. Chipotle Mexican Grill has a 1-year low of $38.01 and a 1-year 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 stock’s 50 day moving average price is $57.18 and its 200 day moving average price is $81.14.

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

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valley National Advisers Inc. boosted its position in shares of Chipotle Mexican Grill by 9.8% in the first quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock worth $131,000 after buying an additional 4 shares during the period. Scott & Selber Inc. boosted its position in shares of Chipotle Mexican Grill by 0.6% in the first quarter. Scott & Selber Inc. now owns 720 shares of the restaurant operator’s stock worth $2,093,000 after buying an additional 4 shares during the period. Quent Capital LLC boosted its position in shares of Chipotle Mexican Grill by 2.0% in the first quarter. Quent Capital LLC now owns 206 shares of the restaurant operator’s stock worth $599,000 after buying an additional 4 shares during the period. First National Bank of Hutchinson boosted its position in shares of Chipotle Mexican Grill by 1.1% in the first quarter. First National Bank of Hutchinson now owns 378 shares of the restaurant operator’s stock worth $1,099,000 after buying an additional 4 shares during the period. Finally, Pacific Center for Financial Services boosted its position in shares of Chipotle Mexican Grill by 8.0% in the first quarter. Pacific Center for Financial Services now owns 54 shares of the restaurant operator’s stock worth $157,000 after buying an additional 4 shares during the period. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chipotle Mexican Grill

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

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.