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

Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) - Equities research analysts at Wedbush upped their Q2 2024 EPS estimates for Chipotle Mexican Grill in a research note issued on Thursday, April 25th. Wedbush analyst N. Setyan now anticipates that the restaurant operator will earn $15.39 per share for the quarter, up from their prior forecast of $14.74. Wedbush has a "Neutral" rating and a $3,200.00 price objective 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 - Get Free Report) last posted its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, beating analysts' consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 45.46%. The company had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $2.67 billion.

Other analysts have also issued reports about the stock. Evercore ISI boosted their price target on shares of Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an "outperform" rating in a research note on Thursday. Stifel Nicolaus boosted their price target on shares of Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a "buy" rating in a research note on Thursday, April 11th. Truist Financial boosted their price target on shares of Chipotle Mexican Grill from $3,250.00 to $3,440.00 and gave the stock a "buy" rating in a research note on Thursday. Robert W. Baird upped their target price on shares of Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Citigroup upped their target price on shares of Chipotle Mexican Grill from $3,358.00 to $3,369.00 and gave the stock a "buy" rating in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $3,057.68.

Chipotle Mexican Grill Stock Up 2.5 %

NYSE:CMG traded up $77.43 on Friday, reaching $3,189.40. 335,485 shares of the company's stock were exchanged, compared to its average volume of 242,585. The firm has a market capitalization of $87.61 billion, a price-to-earnings ratio of 67.09, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. The business has a fifty day moving average of $2,811.11 and a 200-day moving average of $2,416.65. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99.

Chipotle Mexican Grill shares are scheduled to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be distributed to shareholders after the closing bell on Tuesday, June 25th.

Institutional Investors Weigh In On Chipotle Mexican Grill

Hedge funds have recently modified their holdings of the stock. SlateStone Wealth LLC purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $265,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $230,000. Emerald Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $872,000. Meridian Wealth Management LLC boosted its position in shares of Chipotle Mexican Grill by 4.0% during the 1st quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator's stock worth $680,000 after purchasing an additional 9 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in shares of Chipotle Mexican Grill by 5.1% during the 1st quarter. Lindbrook Capital LLC now owns 348 shares of the restaurant operator's stock worth $1,012,000 after purchasing an additional 17 shares in the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the completion of the sale, the insider now directly owns 8,563 shares of the company's stock, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the completion of the sale, the director now directly owns 37,271 shares of the company's stock, valued at $97,221,776.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the sale, the insider now directly owns 8,563 shares of the company's stock, valued at $25,071,093.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is currently owned by company 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.