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Chipotle Mexican Grill (CMG) Increases Despite Market Slip: Here's What You Need to Know
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Chipotle Mexican Grill (CMG - Free Report) closed at $2,903.44 in the latest trading session, marking a +0.74% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.31%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the Mexican food chain had gained 8.89% in the past month. In that same time, the Retail-Wholesale sector gained 2.43%, while the S&P 500 gained 3.05%.
Market participants will be closely following the financial results of Chipotle Mexican Grill in its upcoming release. The company plans to announce its earnings on April 24, 2024. In that report, analysts expect Chipotle Mexican Grill to post earnings of $11.37 per share. This would mark year-over-year growth of 8.29%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.66 billion, indicating a 12.31% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $53.12 per share and revenue of $11.22 billion, which would represent changes of +18.41% and +13.64%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Chipotle Mexican Grill. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.17% downward. Chipotle Mexican Grill is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Chipotle Mexican Grill has a Forward P/E ratio of 54.26 right now. This expresses a premium compared to the average Forward P/E of 20.1 of its industry.
We can also see that CMG currently has a PEG ratio of 2.47. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. CMG's industry had an average PEG ratio of 1.81 as of yesterday's close.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CMG in the coming trading sessions, be sure to utilize Zacks.com.
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Chipotle Mexican Grill (CMG) Increases Despite Market Slip: Here's What You Need to Know
Chipotle Mexican Grill (CMG - Free Report) closed at $2,903.44 in the latest trading session, marking a +0.74% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.31%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the Mexican food chain had gained 8.89% in the past month. In that same time, the Retail-Wholesale sector gained 2.43%, while the S&P 500 gained 3.05%.
Market participants will be closely following the financial results of Chipotle Mexican Grill in its upcoming release. The company plans to announce its earnings on April 24, 2024. In that report, analysts expect Chipotle Mexican Grill to post earnings of $11.37 per share. This would mark year-over-year growth of 8.29%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.66 billion, indicating a 12.31% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $53.12 per share and revenue of $11.22 billion, which would represent changes of +18.41% and +13.64%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Chipotle Mexican Grill. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.17% downward. Chipotle Mexican Grill is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Chipotle Mexican Grill has a Forward P/E ratio of 54.26 right now. This expresses a premium compared to the average Forward P/E of 20.1 of its industry.
We can also see that CMG currently has a PEG ratio of 2.47. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. CMG's industry had an average PEG ratio of 1.81 as of yesterday's close.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CMG in the coming trading sessions, be sure to utilize Zacks.com.