$1.95 Billion in Sales Expected for Chipotle Mexican Grill, Inc. (NYSE:CMG) This Quarter

Wall Street brokerages expect Chipotle Mexican Grill, Inc. (NYSE:CMG) to announce $1.95 billion in sales for the current fiscal quarter, Zacks reports. Eleven analysts have made 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 $1.94 billion. Chipotle Mexican Grill reported sales of $1.61 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.1%. The firm is scheduled to issue its next earnings report on Tuesday, February 1st.

On average, analysts expect that Chipotle Mexican Grill will report full year sales of $7.54 billion for the current financial year, with estimates ranging from $7.52 billion to $7.56 billion. For the next year, analysts anticipate that the company will post sales of $8.60 billion, with estimates ranging from $8.44 billion to $8.81 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Chipotle Mexican Grill.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, October 20th. The restaurant operator reported $7.02 EPS for the quarter, topping analysts’ consensus estimates of $6.32 by $0.70. Chipotle Mexican Grill had a net margin of 9.88% and a return on equity of 30.92%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm earned $3.76 EPS.

CMG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Chipotle Mexican Grill from $1,630.00 to $1,747.00 and gave the company a “hold” rating in a research note on Monday, October 25th. Morgan Stanley raised their target price on shares of Chipotle Mexican Grill from $1,790.00 to $1,929.00 and gave the company an “equal weight” rating in a research note on Friday, October 22nd. Argus raised their target price on shares of Chipotle Mexican Grill from $2,110.00 to $2,200.00 and gave the company a “buy” rating in a research note on Friday, September 24th. Cowen raised their target price on shares of Chipotle Mexican Grill from $2,080.00 to $2,250.00 and gave the company an “outperform” rating in a research note on Wednesday, September 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $2,600.00 target price (up previously from $2,235.00) on shares of Chipotle Mexican Grill in a research note on Wednesday, September 15th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Buy” and a consensus target price of $1,992.48.

NYSE:CMG traded down $0.54 during mid-day trading on Friday, reaching $1,707.93. 108,965 shares of the company were exchanged, compared to its average volume of 268,720. Chipotle Mexican Grill has a 12 month low of $1,256.27 and a 12 month high of $1,958.55. The company has a fifty day moving average of $1,821.79 and a 200 day moving average of $1,697.21. The stock has a market cap of $48.05 billion, a PE ratio of 68.54 and a beta of 1.26.

In other news, Director Pershing Square Capital Manage bought 15,778 shares of the company’s stock in a transaction dated Friday, September 3rd. The stock was bought at an average price of $1,910.71 per share, with a total value of $30,147,182.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jack Hartung sold 12,023 shares of the business’s stock in a transaction dated 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. 1.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in Chipotle Mexican Grill by 3.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,369,833 shares of the restaurant operator’s stock worth $3,674,047,000 after acquiring an additional 75,365 shares in the last quarter. State Street Corp raised its stake in Chipotle Mexican Grill by 1.6% during the second quarter. State Street Corp now owns 1,101,621 shares of the restaurant operator’s stock worth $1,707,887,000 after acquiring an additional 17,115 shares in the last quarter. Capital International Investors raised its stake in Chipotle Mexican Grill by 1.5% during the second quarter. Capital International Investors now owns 851,948 shares of the restaurant operator’s stock worth $1,320,566,000 after acquiring an additional 12,904 shares in the last quarter. Jennison Associates LLC raised its stake in Chipotle Mexican Grill by 1.8% during the third quarter. Jennison Associates LLC now owns 728,642 shares of the restaurant operator’s stock worth $1,324,321,000 after acquiring an additional 12,644 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of Chipotle Mexican Grill by 11.8% during the third quarter. Capital World Investors now owns 723,434 shares of the restaurant operator’s stock worth $1,314,856,000 after purchasing an additional 76,473 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

About Chipotle Mexican Grill

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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