Chipotle Mexican Grill, Inc. Expected to Post Q3 2024 Earnings of $0.25 Per Share (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Equities researchers at Zacks Research cut their Q3 2024 earnings estimates for Chipotle Mexican Grill in a report issued on Wednesday, August 7th. Zacks Research analyst H. Ray now forecasts that the restaurant operator will earn $0.25 per share for the quarter, down from their previous estimate of $0.27. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $1.09 per share. Zacks Research also issued estimates for Chipotle Mexican Grill’s Q3 2025 earnings at $0.31 EPS and FY2025 earnings at $1.27 EPS.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping 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 44.01%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the firm posted $12.65 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 18.2% on a year-over-year basis.

A number of other analysts have also recently commented on the stock. BTIG Research upped their price target on shares of Chipotle Mexican Grill from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group cut their price objective on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. StockNews.com cut shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Wells Fargo & Company upped their target price on shares of Chipotle Mexican Grill from $65.70 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, UBS Group upped their target price on shares of Chipotle Mexican Grill from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Eleven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.88.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock traded up $1.23 during trading on Thursday, hitting $55.55. The company’s stock had a trading volume of 11,569,747 shares, compared to its average volume of 14,392,227. 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 $76.29 billion, a price-to-earnings ratio of 59.11, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24. The stock has a 50-day moving average price of $123.48 and a two-hundred day moving average price of $80.05.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the transaction, the insider now owns 358,300 shares in the company, valued at $19,591,844. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of large investors have recently modified their holdings of the stock. Swedbank AB bought a new position in shares of Chipotle Mexican Grill in the first quarter worth approximately $53,979,000. Moody National Bank Trust Division lifted its stake in shares of Chipotle Mexican Grill by 1.0% in the first quarter. Moody National Bank Trust Division now owns 490 shares of the restaurant operator’s stock worth $1,424,000 after buying an additional 5 shares in the last quarter. CWM LLC lifted its stake in shares of Chipotle Mexican Grill by 6,172.1% in the second quarter. CWM LLC now owns 40,079 shares of the restaurant operator’s stock worth $2,511,000 after buying an additional 39,440 shares in the last quarter. Perpetual Ltd bought a new position in shares of Chipotle Mexican Grill in the first quarter worth approximately $730,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Chipotle Mexican Grill by 296.5% in the first quarter. Canada Pension Plan Investment Board now owns 21,144 shares of the restaurant operator’s stock worth $61,461,000 after buying an additional 15,811 shares in 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.