Chipotle Mexican Grill, Inc. (NYSE:CMG) to Post Q3 2024 Earnings of $0.24 Per Share, William Blair Forecasts

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Equities researchers at William Blair lowered their Q3 2024 earnings per share (EPS) estimates for Chipotle Mexican Grill in a research report issued on Thursday, July 25th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings per share of $0.24 for the quarter, down from their prior forecast of $0.25. 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 $0.22 EPS.

Several other equities analysts also recently issued reports on CMG. Loop Capital reduced their price objective on shares of Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating on the stock in a research note on Thursday. Citigroup decreased their price objective on Chipotle Mexican Grill from $71.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday. Stifel Nicolaus dropped their target price on Chipotle Mexican Grill from $3,270.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Stephens decreased their price target on Chipotle Mexican Grill from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Truist Financial dropped their price objective on shares of Chipotle Mexican Grill from $74.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday. Eleven investment 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.88.

Chipotle Mexican Grill Trading Down 1.8 %

Chipotle Mexican Grill stock opened at $50.83 on Friday. Chipotle Mexican Grill has a 52 week low of $35.37 and a 52 week high of $69.26. The stock has a market cap of $69.81 billion, a PE ratio of 54.24, a P/E/G ratio of 2.07 and a beta of 1.24. The stock has a 50-day moving average price of $125.65 and a 200 day moving average price of $79.48.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a return on equity of 46.17% and a net margin of 13.23%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $12.65 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMG. Steph & Co. purchased a new stake in Chipotle Mexican Grill during the 1st quarter worth approximately $29,000. Semmax Financial Advisors Inc. increased its stake in shares of Chipotle Mexican Grill by 225.0% in the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock worth $42,000 after buying an additional 9 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Chipotle Mexican Grill in the first quarter valued at $44,000. Turtle Creek Wealth Advisors LLC bought a new position in Chipotle Mexican Grill during the 4th quarter valued at $37,000. Finally, ICA Group Wealth Management LLC acquired a new position in Chipotle Mexican Grill during the 4th quarter worth $37,000. 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.