Wall Street analysts forecast that Chipotle Mexican Grill (CMG) will report quarterly earnings of $0.24 per share in its upcoming release, pointing to a year-over-year decline of 4%. It is anticipated that revenues will amount to $2.98 billion, exhibiting an increase of 4.9% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.8% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain Chipotle metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus among analysts is that 'Revenue- Food and beverage' will reach $2.95 billion. The estimate indicates a change of +4.4% from the prior-year quarter.
The consensus estimate for 'Revenue- Delivery service' stands at $14.21 million. The estimate points to a change of -7.3% from the year-ago quarter.
The average prediction of analysts places 'Company-operated restaurants at end of period' at 4,041 . Compared to the present estimate, the company reported 3,726 in the same quarter last year.
Based on the collective assessment of analysts, 'Comparable restaurant sales increase' should arrive at -2.8%. Compared to the present estimate, the company reported 5.4% in the same quarter last year.
It is projected by analysts that the 'Company-operated restaurants opened' will reach 125 . Compared to the present estimate, the company reported 119 in the same quarter last year.
The combined assessment of analysts suggests that 'Company-operated restaurants at beginning of period' will likely reach 3,916 . Compared to the present estimate, the company reported 3,615 in the same quarter last year.
According to the collective judgment of analysts, 'Average restaurant sales - TTM' should come in at $3.07 million. The estimate is in contrast to the year-ago figure of $3.21 million.
View all Key Company Metrics for Chipotle here>>>
Shares of Chipotle have experienced a change of +5.8% in the past month compared to the +0.8% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), CMG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Chipotle Mexican Grill, Inc. (CMG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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