Chipotle Mexican Grill, Inc. (NYSE:CMG) Expected to Post Quarterly Sales of $1.94 Billion

Analysts expect that Chipotle Mexican Grill, Inc. (NYSE:CMG) will post $1.94 billion in sales for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Chipotle Mexican Grill’s earnings, with the highest sales estimate coming in at $1.98 billion and the lowest estimate coming in at $1.89 billion. Chipotle Mexican Grill reported sales of $1.60 billion during the same quarter last year, which would suggest a positive year over year growth rate of 21.3%. The business is scheduled to issue its next earnings results after the market closes on Thursday, October 21st.

According to Zacks, analysts expect that Chipotle Mexican Grill will report full year sales of $7.51 billion for the current year, with estimates ranging from $7.42 billion to $7.63 billion. For the next year, analysts anticipate that the business will report sales of $8.52 billion, with estimates ranging from $8.28 billion to $8.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Chipotle Mexican Grill.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Monday, July 19th. The restaurant operator reported $7.46 earnings per share for the quarter, beating the consensus estimate of $6.52 by $0.94. Chipotle Mexican Grill had a return on equity of 28.27% and a net margin of 8.57%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the firm posted $0.40 EPS. The company’s revenue was up 38.7% compared to the same quarter last year.

Several analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $2,600.00 price target (up previously from $2,235.00) on shares of Chipotle Mexican Grill in a report on Wednesday, September 15th. They noted that the move was a valuation call. Credit Suisse Group increased their price objective on Chipotle Mexican Grill from $1,950.00 to $2,075.00 and gave the company an “outperform” rating in a research report on Wednesday, July 21st. BTIG Research increased their price objective on Chipotle Mexican Grill from $1,850.00 to $2,150.00 and gave the company a “buy” rating in a research report on Wednesday, September 8th. Wedbush increased their price objective on Chipotle Mexican Grill from $1,800.00 to $2,150.00 and gave the company an “outperform” rating in a research report on Tuesday, September 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Chipotle Mexican Grill from $1,495.00 to $1,630.00 and gave the company a “hold” rating in a research report on Thursday, July 22nd. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $1,882.57.

NYSE:CMG opened at $1,810.55 on Thursday. The business’s 50-day moving average price is $1,879.21 and its two-hundred day moving average price is $1,630.83. Chipotle Mexican Grill has a twelve month low of $1,172.29 and a twelve month high of $1,958.55. The stock has a market cap of $50.87 billion, a P/E ratio of 88.06, a PEG ratio of 3.73 and a beta of 1.36.

In other news, Director Pershing Square Capital Manage bought 25,430 shares of the stock in a transaction dated Tuesday, September 7th. The stock was bought at an average price of $1,909.68 per share, for a total transaction of $48,563,162.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jack Hartung sold 12,023 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $1,920.83, for a total value of $23,094,139.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,003 shares of company stock valued at $57,382,197. 1.00% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Baldrige Asset Management LLC purchased a new position in Chipotle Mexican Grill during the second quarter valued at $31,000. Heritage Wealth Advisors purchased a new position in Chipotle Mexican Grill during the second quarter valued at $31,000. Financial Insights Inc. purchased a new position in Chipotle Mexican Grill during the second quarter valued at $39,000. Koshinski Asset Management Inc. purchased a new position in Chipotle Mexican Grill during the third quarter valued at $47,000. Finally, Wolverine Asset Management LLC purchased a new position in Chipotle Mexican Grill during the first quarter valued at $41,000. Institutional investors and hedge funds own 90.32% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc engages in the development and operation of classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. It offers focused menu of burritos, tacos, burrito bowls, and salads prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Newport Beach, CA.

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Earnings History and Estimates for Chipotle Mexican Grill (NYSE:CMG)

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