Chipotle Mexican Grill (NYSE:CMG) Issues Earnings Results, Beats Expectations By $0.02 EPS

Chipotle Mexican Grill (NYSE:CMG) released its earnings results on Wednesday. The restaurant operator reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02, Briefing.com reports. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the business earned $12.65 earnings per share. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year.

Chipotle Mexican Grill Stock Down 1.4 %

NYSE:CMG traded down $0.76 during trading hours on Wednesday, hitting $51.79. 38,719,400 shares of the stock were exchanged, compared to its average volume of 14,042,650. The company’s 50 day moving average is $126.12 and its two-hundred day moving average is $79.88. Chipotle Mexican Grill has a twelve month low of $35.37 and a twelve month high of $69.26. The company has a market capitalization of $71.13 billion, a P/E ratio of 55.37, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24.

Analysts Set New Price Targets

CMG has been the topic of a number of recent research reports. Evercore ISI decreased their target price on Chipotle Mexican Grill from $3,600.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Wedbush reissued a “neutral” rating and set a $64.00 target price on shares of Chipotle Mexican Grill in a research report on Monday, June 17th. UBS Group raised their price target on shares of Chipotle Mexican Grill from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Barclays decreased their price objective on Chipotle Mexican Grill from $2,865.00 to $58.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Finally, Sanford C. Bernstein lifted their price objective on Chipotle Mexican Grill from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.52.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 125,450 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $63.29, for a total transaction of $7,939,579.96. Following the transaction, the insider now owns 54,250 shares of the company’s stock, valued at approximately $3,433,417.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 125,450 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $63.29, for a total transaction of $7,939,579.96. Following the transaction, the insider now owns 54,250 shares of the company’s stock, valued at approximately $3,433,417.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Scott Boatwright sold 55,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $63.80, for a total value of $3,509,176.00. Following the transaction, the chief operating officer now directly owns 120,600 shares in the company, valued at approximately $7,694,665.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 550,750 shares of company stock valued at $35,023,769. 1.02% of the stock is currently 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.