Q2 2024 Earnings Estimate for Chipotle Mexican Grill, Inc. Issued By Wedbush (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Research analysts at Wedbush increased their Q2 2024 earnings per share estimates for shares of Chipotle Mexican Grill in a research note issued on Thursday, April 25th. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings per share of $15.39 for the quarter, up from their prior estimate of $14.74. Wedbush currently has a “Neutral” rating and a $3,200.00 price target 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.

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

CMG has been the topic of several other reports. Piper Sandler lifted their price target on Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the stock a “neutral” rating in a research report on Thursday. BMO Capital Markets lifted their price target on Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the stock a “market perform” rating in a research report on Thursday. Raymond James reaffirmed an “outperform” rating and issued a $3,340.00 price target (up from $3,300.00) on shares of Chipotle Mexican Grill in a research report on Thursday. UBS Group lifted their price target on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Stephens lifted their price target on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the stock an “equal weight” rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $3,137.12.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $3,189.40 on Friday. The stock’s 50 day simple moving average is $2,822.95 and its 200 day simple moving average is $2,426.07. The company has a market capitalization of $87.60 billion, a price-to-earnings ratio of 68.06, a PEG ratio of 2.48 and a beta of 1.28. Chipotle Mexican Grill has a twelve month low of $1,768.64 and a twelve month high of $3,199.99.

Chipotle Mexican Grill shares are set to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, June 25th.

Insider Activity at Chipotle Mexican Grill

In related news, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the sale, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the completion of the transaction, the director now owns 37,271 shares in the company, valued at approximately $97,221,776.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill stock in a transaction on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the completion of the transaction, the chief executive officer now owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. Insiders have sold a total of 6,793 shares of company stock valued at $18,321,152 in the last 90 days. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors have recently bought and sold shares of the business. Byrne Asset Management LLC raised its position in Chipotle Mexican Grill by 11.8% in the 1st 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 during the last quarter. Evermay Wealth Management LLC raised its position in shares of Chipotle Mexican Grill by 1.8% during the fourth quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock worth $528,000 after acquiring an additional 4 shares during the last quarter. Peloton Wealth Strategists raised its position in shares of Chipotle Mexican Grill by 0.3% during the fourth quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock worth $3,318,000 after acquiring an additional 4 shares during the last quarter. Diversified Trust Co raised its position 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 acquiring an additional 4 shares during the last quarter. Finally, Valley National Advisers Inc. raised its position in shares of Chipotle Mexican Grill by 9.8% during the first quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock worth $131,000 after acquiring an additional 4 shares during the last quarter. Institutional investors own 91.31% of the company’s stock.

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.