Wall Street brokerages forecast that Chipotle Mexican Grill, Inc. (NYSE:CMG) will report sales of $1.19 billion for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have made estimates for Chipotle Mexican Grill’s earnings, with estimates ranging from $1.18 billion to $1.20 billion. Chipotle Mexican Grill posted sales of $1.11 billion in the same quarter last year, which suggests a positive year over year growth rate of 7.2%. The business is scheduled to announce its next earnings results on Tuesday, February 5th.
According to Zacks, analysts expect that Chipotle Mexican Grill will report full year sales of $4.83 billion for the current fiscal year, with estimates ranging from $4.82 billion to $4.84 billion. For the next year, analysts anticipate that the business will report sales of $5.21 billion, with estimates ranging from $5.11 billion to $5.31 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Chipotle Mexican Grill.
Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Thursday, October 25th. The restaurant operator reported $2.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.16. Chipotle Mexican Grill had a net margin of 3.96% and a return on equity of 17.14%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion.
A number of equities analysts have recently weighed in on CMG shares. Jefferies Financial Group raised shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Robert W. Baird reiterated a “buy” rating and issued a $535.00 price objective on shares of Chipotle Mexican Grill in a research report on Friday, July 27th. Canaccord Genuity boosted their price objective on shares of Chipotle Mexican Grill from $500.00 to $550.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of Chipotle Mexican Grill from a “hold” rating to a “buy” rating and set a $512.00 price objective on the stock in a research report on Monday, July 16th. Finally, Citigroup boosted their price objective on shares of Chipotle Mexican Grill from $506.00 to $573.00 and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $431.72.
NYSE:CMG opened at $490.76 on Friday. Chipotle Mexican Grill has a fifty-two week low of $247.51 and a fifty-two week high of $530.68. The firm has a market cap of $13.18 billion, a PE ratio of 74.36, a P/E/G ratio of 3.13 and a beta of 0.22.
In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 823,357 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $487.29, for a total value of $401,213,632.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.19% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CMG. Jennison Associates LLC lifted its holdings in Chipotle Mexican Grill by 128.5% in the 3rd quarter. Jennison Associates LLC now owns 830,269 shares of the restaurant operator’s stock valued at $377,374,000 after purchasing an additional 466,849 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Chipotle Mexican Grill in the 3rd quarter valued at about $69,452,000. FMR LLC lifted its holdings in shares of Chipotle Mexican Grill by 10.2% during the 2nd quarter. FMR LLC now owns 1,620,408 shares of the restaurant operator’s stock worth $698,995,000 after acquiring an additional 149,725 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Chipotle Mexican Grill by 125.3% during the 3rd quarter. Wells Fargo & Company MN now owns 261,869 shares of the restaurant operator’s stock worth $119,025,000 after acquiring an additional 145,631 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Chipotle Mexican Grill by 2,018.2% during the 3rd quarter. Victory Capital Management Inc. now owns 118,918 shares of the restaurant operator’s stock worth $54,050,000 after acquiring an additional 113,304 shares during the period. Institutional investors own 89.13% of the company’s stock.
Chipotle Mexican Grill Company Profile
Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2017, it operated 2,363 Chipotle restaurants throughout the United States, as well as 37 international Chipotle restaurants; and 8 non-Chipotle restaurants. The company was founded in 1993 and is based in Denver, Colorado.
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