Chipotle Mexican Grill, Inc. (CMG) Given New $291.00 Price Target at Nomura

Chipotle Mexican Grill, Inc. (NYSE:CMG) had its price target trimmed by Nomura from $338.00 to $291.00 in a report issued on Wednesday, October 25th. The brokerage currently has a neutral rating on the restaurant operator’s stock.

“Impacted by weather, earthquakes and higher than expected costs, 3Q17 adjusted EBITDA of $301M missed our/Street’s $316M/$318M estimates. Revenues improved ~4% YoY helped by: ~+3% attendance (owing to opening of two new waterparks), ~ +2% guest spending per capita, ~+23% licensing, and a small decline in sponsorship/ accommodations. Recent mild weather should provide a tailwind to Fright Fest and Holiday in the Park attendance, which drives 2018 season pass sales; Northern California fires could mute this impact slightly. Management backed off its $575M target for 2017, but mentioned Project 600 is probable in 2018 (50/50 chance) while Project 750 is still achievable, albeit now more difficult. SIX is raising prices 3%+. Management now expects its NOL to last through 2024.”,” Nomura’s analyst wrote.

Several other equities research analysts have also issued reports on CMG. UBS AG dropped their price objective on shares of Chipotle Mexican Grill from $460.00 to $445.00 and set a neutral rating for the company in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Chipotle Mexican Grill from a sell rating to a hold rating in a report on Friday, August 4th. BMO Capital Markets reiterated a market perform rating and set a $275.00 price objective (down from $330.00) on shares of Chipotle Mexican Grill in a research note on Wednesday, October 25th. Canaccord Genuity reduced their price objective on shares of Chipotle Mexican Grill from $400.00 to $325.00 and set a hold rating on the stock in a research note on Wednesday, October 25th. Finally, Robert W. Baird set a $300.00 price objective on shares of Chipotle Mexican Grill and gave the company a hold rating in a research note on Wednesday, October 25th. Eight research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $356.06.

Shares of Chipotle Mexican Grill (NYSE CMG) traded up $4.45 on Wednesday, hitting $279.45. 1,060,800 shares of the company traded hands, compared to its average volume of 1,870,497. The stock has a market capitalization of $7,889.71, a P/E ratio of 48.18, a price-to-earnings-growth ratio of 2.42 and a beta of 0.44. Chipotle Mexican Grill has a fifty-two week low of $264.90 and a fifty-two week high of $499.00.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, October 24th. The restaurant operator reported $1.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.24 by ($0.91). Chipotle Mexican Grill had a return on equity of 11.80% and a net margin of 3.37%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business earned $0.56 EPS. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. analysts forecast that Chipotle Mexican Grill will post 6.59 earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Korea Investment CORP boosted its holdings in shares of Chipotle Mexican Grill by 140.2% in the 2nd quarter. Korea Investment CORP now owns 269 shares of the restaurant operator’s stock valued at $112,000 after buying an additional 157 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Chipotle Mexican Grill by 15.7% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 406 shares of the restaurant operator’s stock valued at $140,000 after buying an additional 55 shares during the last quarter. First Interstate Bank boosted its holdings in shares of Chipotle Mexican Grill by 111.1% in the 3rd quarter. First Interstate Bank now owns 475 shares of the restaurant operator’s stock valued at $146,000 after buying an additional 250 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of Chipotle Mexican Grill by 84.5% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 369 shares of the restaurant operator’s stock valued at $164,000 after buying an additional 169 shares during the last quarter. Finally, Mercer Capital Advisers Inc. acquired a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at approximately $183,000. 90.31% of the stock is owned by institutional investors.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.

Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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