FY2024 EPS Estimates for Chipotle Mexican Grill, Inc. Decreased by Analyst (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Wedbush cut their FY2024 earnings estimates for Chipotle Mexican Grill in a research report issued on Thursday, July 25th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will post earnings of $1.08 per share for the year, down from their prior forecast of $1.12. Wedbush has a “Neutral” rating and a $54.00 price objective on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $1.10 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s Q4 2024 earnings at $0.23 EPS, Q1 2025 earnings at $0.28 EPS and FY2025 earnings at $1.24 EPS.

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

Several other equities research analysts have also weighed in on CMG. Citigroup reduced their target price on Chipotle Mexican Grill from $71.00 to $69.00 and set a “buy” rating for the company in a report on Thursday. Piper Sandler lowered their price target on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday. Stephens cut their price objective on Chipotle Mexican Grill from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Thursday. BTIG Research raised their target price on Chipotle Mexican Grill from $65.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, KeyCorp dropped their price target on Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.88.

Chipotle Mexican Grill Stock Performance

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Byrne Asset Management LLC increased its holdings in shares of Chipotle Mexican Grill by 11.8% in the first quarter. Byrne Asset Management LLC now owns 38 shares of the restaurant operator’s stock valued at $110,000 after purchasing an additional 4 shares in the last quarter. Evermay Wealth Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 1.8% during the 4th quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after purchasing an additional 4 shares in the last quarter. Peloton Wealth Strategists boosted its holdings in shares of Chipotle Mexican Grill by 0.3% in the fourth quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after buying an additional 4 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in Chipotle Mexican Grill by 19.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock worth $73,000 after purchasing an additional 4 shares during the period. Finally, Diversified Trust Co grew its holdings in shares of Chipotle Mexican Grill by 0.9% during the first quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock worth $1,378,000 after buying an additional 4 shares in the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

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.