What is Wedbush’s Estimate for CMG FY2024 Earnings?

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Analysts at Wedbush increased their FY2024 earnings estimates for Chipotle Mexican Grill in a report issued on Wednesday, October 30th. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings of $1.11 per share for the year, up from their previous forecast of $1.09. Wedbush has a “Outperform” rating and a $69.00 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 $0.24 EPS and Q4 2025 earnings at $0.31 EPS.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. Chipotle Mexican Grill’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 earnings per share.

Several other research firms also recently commented on CMG. Citigroup decreased their target price on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday. TD Cowen boosted their target price on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $67.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Wells Fargo & Company boosted their target price on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price objective on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.47.

Chipotle Mexican Grill Trading Up 5.1 %

Shares of NYSE CMG opened at $58.59 on Thursday. The firm’s 50-day moving average price is $57.28 and its 200-day moving average price is $81.14. Chipotle Mexican Grill has a 1-year low of $39.92 and a 1-year high of $69.26. The firm has a market capitalization of $80.24 billion, a P/E ratio of 54.53, a P/E/G ratio of 2.41 and a beta of 1.25.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors and hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Chipotle Mexican Grill in the 2nd quarter worth $25,000. Riverview Trust Co increased its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares during the last quarter. RiverPark Advisors LLC increased its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares during the last quarter. Archer Investment Corp bought a new position in shares of Chipotle Mexican Grill in the 2nd quarter worth $25,000. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares during the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chipotle Mexican Grill

In related news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the sale, the insider now directly owns 358,300 shares in the company, valued at approximately $19,591,844. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the sale, the insider now directly owns 358,300 shares in the company, valued at approximately $19,591,844. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the sale, the insider now owns 457,764 shares in the company, valued at $26,115,436.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,684 shares of company stock worth $2,817,127. 1.02% of the stock is owned by corporate insiders.

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.