William Blair Analysts Reduce Earnings Estimates for Chipotle Mexican Grill, Inc. (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Analysts at William Blair dropped their Q3 2024 earnings estimates for Chipotle Mexican Grill in a report issued on Thursday, July 18th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $0.25 per share for the quarter, down from their previous forecast of $0.27. 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 FY2024 earnings at $1.07 EPS.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%.

Several other research firms have also issued reports on CMG. Sanford C. Bernstein boosted their target price on shares of Chipotle Mexican Grill from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. TD Cowen decreased their price target on shares of Chipotle Mexican Grill from $3,600.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. BMO Capital Markets lifted their price target on shares of Chipotle Mexican Grill from $48.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. StockNews.com downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $30.50 price target (down from $3,050.00) on shares of Chipotle Mexican Grill in a research note on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average price target of $64.90.

Chipotle Mexican Grill Stock Down 1.9 %

CMG stock opened at $52.55 on Monday. The firm has a market cap of $72.17 billion, a price-to-earnings ratio of 56.07, a PEG ratio of 2.14 and a beta of 1.24. Chipotle Mexican Grill has a 12-month low of $35.37 and a 12-month high of $69.26. The company’s fifty day simple moving average is $126.12 and its 200 day simple moving average is $79.88.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, COO Scott Boatwright sold 55,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.80, for a total value of $3,509,176.00. Following the transaction, the chief operating officer now directly owns 120,600 shares in the company, valued at $7,694,665.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Roger E. Theodoredis sold 125,450 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $63.29, for a total transaction of $7,939,579.96. Following the sale, the insider now directly owns 54,250 shares in the company, valued at approximately $3,433,417.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Scott Boatwright sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $63.80, for a total transaction of $3,509,176.00. Following the sale, the chief operating officer now owns 120,600 shares in the company, valued at $7,694,665.92. The disclosure for this sale can be found here. Insiders have sold a total of 550,750 shares of company stock worth $35,023,769 over the last three months. 1.02% of the stock is currently owned by insiders.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors have recently modified their holdings of the business. Private Advisory Group LLC purchased a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at approximately $984,000. GYL Financial Synergies LLC lifted its stake in Chipotle Mexican Grill by 5,028.9% in the 2nd quarter. GYL Financial Synergies LLC now owns 92,884 shares of the restaurant operator’s stock worth $5,819,000 after purchasing an additional 91,073 shares in the last quarter. PSI Advisors LLC lifted its stake in Chipotle Mexican Grill by 6,900.0% in the 2nd quarter. PSI Advisors LLC now owns 1,750 shares of the restaurant operator’s stock worth $110,000 after purchasing an additional 1,725 shares in the last quarter. Richard W. Paul & Associates LLC lifted its stake in Chipotle Mexican Grill by 4,932.7% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 17,564 shares of the restaurant operator’s stock worth $1,100,000 after purchasing an additional 17,215 shares in the last quarter. Finally, American National Bank lifted its stake in Chipotle Mexican Grill by 5,268.4% in the 2nd quarter. American National Bank now owns 5,100 shares of the restaurant operator’s stock worth $320,000 after purchasing an additional 5,005 shares in the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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.