Chipotle Mexican Grill, Inc. to Post Q2 2024 Earnings of $15.39 Per Share, Wedbush Forecasts (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Analysts at Wedbush lifted their Q2 2024 earnings estimates for shares of Chipotle Mexican Grill in a research report issued on Thursday, April 25th. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings of $15.39 per share for the quarter, up from their prior forecast of $14.74. Wedbush has a “Neutral” rating and a $3,200.00 price objective on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $53.49 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s Q2 2025 earnings at $18.59 EPS and FY2025 earnings at $68.56 EPS.

A number of other research firms have also commented on CMG. Argus upped their price objective on shares of Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Robert W. Baird upped their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a research note on Thursday. Evercore ISI increased their target price on shares of Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Thursday. Jefferies Financial Group increased their target price on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the stock a “buy” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3,057.68.

Chipotle Mexican Grill Price Performance

CMG opened at $3,116.02 on Friday. The company’s 50 day moving average price is $2,811.11 and its two-hundred day moving average price is $2,416.65. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,145.69. The firm has a market capitalization of $85.60 billion, a price-to-earnings ratio of 66.50, a PEG ratio of 2.48 and a beta of 1.28.

Chipotle Mexican Grill’s stock is scheduled to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be issued to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 45.46%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. bought a new stake in Chipotle Mexican Grill in the first quarter valued at $230,000. Emerald Advisors LLC bought a new position in Chipotle Mexican Grill in the 1st quarter worth about $872,000. Meridian Wealth Management LLC boosted its stake in Chipotle Mexican Grill by 4.0% in the 1st quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock worth $680,000 after purchasing an additional 9 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Chipotle Mexican Grill by 5.1% in the 1st quarter. Lindbrook Capital LLC now owns 348 shares of the restaurant operator’s stock worth $1,012,000 after purchasing an additional 17 shares in the last quarter. Finally, Strategy Asset Managers LLC boosted its stake in Chipotle Mexican Grill by 10.1% in the 1st quarter. Strategy Asset Managers LLC now owns 196 shares of the restaurant operator’s stock worth $570,000 after purchasing an additional 18 shares in the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now directly owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now directly owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the transaction, the insider now owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by company 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.