Chipotle Mexican Grill, Inc. (NYSE:CMG) – Equities researchers at Piper Jaffray Companies reduced their Q1 2020 earnings estimates for Chipotle Mexican Grill in a research report issued on Sunday, May 19th, according to Zacks Investment Research. Piper Jaffray Companies analyst N. Regan now expects that the restaurant operator will earn $4.18 per share for the quarter, down from their previous estimate of $4.31. Piper Jaffray Companies has a “Overweight” rating and a $783.00 price target on the stock. Piper Jaffray Companies also issued estimates for Chipotle Mexican Grill’s Q3 2020 earnings at $4.14 EPS, Q4 2020 earnings at $3.83 EPS and FY2020 earnings at $16.75 EPS.
Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.39. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 19.78%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the firm posted $2.13 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis.
Several other analysts also recently weighed in on CMG. Jefferies Financial Group downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating and lifted their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 11th. Maxim Group lifted their price objective on shares of Chipotle Mexican Grill from $540.00 to $620.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Oppenheimer lifted their price objective on shares of Chipotle Mexican Grill from $400.00 to $525.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. Stifel Nicolaus lifted their price objective on shares of Chipotle Mexican Grill from $500.00 to $700.00 and gave the company an “underperform” rating in a research report on Friday, April 5th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $700.00 price objective (up from $600.00) on shares of Chipotle Mexican Grill in a research report on Thursday, April 18th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $648.66.
Shares of Chipotle Mexican Grill stock traded up $8.30 during trading hours on Wednesday, reaching $740.59. The company’s stock had a trading volume of 380,909 shares, compared to its average volume of 581,912. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.41 and a current ratio of 1.44. Chipotle Mexican Grill has a one year low of $383.20 and a one year high of $749.24. The company has a market cap of $20.29 billion, a P/E ratio of 81.74, a PEG ratio of 2.93 and a beta of 0.63.
In other news, insider Scott Boatwright sold 1,805 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $740.22, for a total value of $1,336,097.10. Following the transaction, the insider now owns 8,869 shares of the company’s stock, valued at approximately $6,565,011.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jack Hartung sold 5,093 shares of Chipotle Mexican Grill stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $649.00, for a total transaction of $3,305,357.00. Following the completion of the transaction, the chief financial officer now directly owns 45,237 shares in the company, valued at approximately $29,358,813. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,832 shares of company stock worth $13,294,768. 2.21% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CMG. Teachers Advisors LLC boosted its holdings in shares of Chipotle Mexican Grill by 6.9% in the third quarter. Teachers Advisors LLC now owns 118,907 shares of the restaurant operator’s stock worth $54,046,000 after buying an additional 7,697 shares during the period. Vanguard Group Inc boosted its holdings in shares of Chipotle Mexican Grill by 1.9% in the third quarter. Vanguard Group Inc now owns 2,590,430 shares of the restaurant operator’s stock worth $1,177,403,000 after buying an additional 47,822 shares during the period. Bank of Montreal Can boosted its holdings in shares of Chipotle Mexican Grill by 301.4% in the fourth quarter. Bank of Montreal Can now owns 82,715 shares of the restaurant operator’s stock worth $35,716,000 after buying an additional 62,107 shares during the period. Empowered Funds LLC acquired a new position in shares of Chipotle Mexican Grill in the fourth quarter worth about $1,128,000. Finally, Clean Yield Group acquired a new position in shares of Chipotle Mexican Grill in the fourth quarter worth about $86,000. 95.08% of the stock is currently owned by institutional investors.
Chipotle Mexican Grill Company Profile
Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.