Chipotle Mexican Grill, Inc. (CMG) Forecasted to Earn Q2 2019 Earnings of $4.47 Per Share
Chipotle Mexican Grill, Inc. (NYSE:CMG) – Investment analysts at SunTrust Banks increased their Q2 2019 earnings estimates for shares of Chipotle Mexican Grill in a report released on Sunday, April 21st. SunTrust Banks analyst J. Bartlett now expects that the restaurant operator will earn $4.47 per share for the quarter, up from their prior forecast of $4.31. SunTrust Banks has a “Positive” rating and a $635.00 price objective on the stock. SunTrust Banks also issued estimates for Chipotle Mexican Grill’s Q3 2019 earnings at $3.37 EPS, FY2019 earnings at $13.89 EPS, Q3 2020 earnings at $4.28 EPS and Q4 2020 earnings at $3.90 EPS.
Several other research analysts also recently issued reports on the company. Cleveland Research upgraded Chipotle Mexican Grill from a “neutral” rating to a “buy” rating in a research report on Thursday, April 18th. Cowen lifted their price objective on Chipotle Mexican Grill from $575.00 to $640.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Telsey Advisory Group restated an “outperform” rating and set a $700.00 price objective (up from $600.00) on shares of Chipotle Mexican Grill in a research report on Thursday, April 18th. Maxim Group lifted their price objective on Chipotle Mexican Grill from $540.00 to $620.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, Morgan Stanley downgraded Chipotle Mexican Grill from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $617.00 to $658.00 in a research report on Wednesday, April 17th. They noted that the move was a valuation call. Seven analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $570.70.
Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, February 6th. The restaurant operator reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.34. Chipotle Mexican Grill had a net margin of 3.63% and a return on equity of 17.64%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm earned $1.34 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in CMG. Dimensional Fund Advisors LP grew its stake in shares of Chipotle Mexican Grill by 15.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 95,724 shares of the restaurant operator’s stock valued at $43,517,000 after buying an additional 12,767 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Chipotle Mexican Grill during the 3rd quarter valued at $300,000. Pacer Advisors Inc. grew its stake in shares of Chipotle Mexican Grill by 34.9% during the 3rd quarter. Pacer Advisors Inc. now owns 1,554 shares of the restaurant operator’s stock valued at $706,000 after buying an additional 402 shares during the period. Mackenzie Financial Corp grew its stake in shares of Chipotle Mexican Grill by 50.5% during the 3rd quarter. Mackenzie Financial Corp now owns 4,036 shares of the restaurant operator’s stock valued at $1,834,000 after buying an additional 1,354 shares during the period. Finally, Kentucky Retirement Systems purchased a new stake in shares of Chipotle Mexican Grill during the 3rd quarter valued at $1,361,000. 93.07% of the stock is owned by institutional investors.
In other Chipotle Mexican Grill news, Director Pershing Square Capital Manage sold 20,000 shares of Chipotle Mexican Grill stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $594.65, for a total value of $11,893,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jack Hartung sold 1,188 shares of Chipotle Mexican Grill stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $680.00, for a total transaction of $807,840.00. Following the completion of the sale, the chief financial officer now directly owns 37,472 shares of the company’s stock, valued at $25,480,960. The disclosure for this sale can be found here. Insiders sold a total of 51,788 shares of company stock valued at $31,629,459 over the last ninety days. 2.21% of the stock is owned by corporate insiders.
About Chipotle Mexican Grill
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.
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