Wedbush Equities Analysts Decrease Earnings Estimates for Chipotle Mexican Grill, Inc. (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Wedbush dropped their FY2024 earnings per share estimates for shares of Chipotle Mexican Grill in a note issued to investors on Thursday, July 25th. Wedbush analyst N. Setyan now forecasts that the restaurant operator will earn $1.08 per share for the year, down from their previous estimate of $1.12. Wedbush has a “Neutral” rating and a $54.00 price target 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 posted its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 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 posted $12.65 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year.

A number of other research analysts have also weighed in on CMG. Stifel Nicolaus cut their price objective on Chipotle Mexican Grill from $3,270.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Robert W. Baird raised their price target on shares of Chipotle Mexican Grill from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. UBS Group increased their price objective on shares of Chipotle Mexican Grill from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. BMO Capital Markets decreased their target price on shares of Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Raymond James cut their price target on Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.88.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $50.83 on Friday. The business’s 50-day moving average is $125.65 and its 200 day moving average is $79.48. The firm has a market capitalization of $69.81 billion, a P/E ratio of 54.24, a P/E/G ratio of 2.07 and a beta of 1.24. Chipotle Mexican Grill has a 1 year low of $35.37 and a 1 year high of $69.26.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Byrne Asset Management LLC grew its position 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 boosted its stake in 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 buying an additional 4 shares during the last quarter. Peloton Wealth Strategists grew its holdings in Chipotle Mexican Grill by 0.3% in the 4th 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 in the last quarter. Hazlett Burt & Watson Inc. raised its position in Chipotle Mexican Grill by 19.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock valued at $73,000 after purchasing an additional 4 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of Chipotle Mexican Grill by 0.9% in the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock valued at $1,378,000 after purchasing an additional 4 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.