Wall Street analysts forecast that Chipotle Mexican Grill (CMG) will report quarterly earnings of $0.29 per share in its upcoming release, pointing to no change from the year-ago quarter. It is anticipated that revenues will amount to $3.29 billion, exhibiting an increase of 9.5% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Chipotle metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenue- Food and beverage' will reach $3.27 billion. The estimate indicates a year-over-year change of +9.3%.
Analysts' assessment points toward 'Revenue- Delivery service' reaching $15.41 million. The estimate points to a change of +8.6% from the year-ago quarter.
Analysts expect 'Company-operated restaurants at end of period' to come in at 4,270 . The estimate is in contrast to the year-ago figure of 3,916 .
Based on the collective assessment of analysts, 'Company-operated restaurants opened' should arrive at 89 . Compared to the present estimate, the company reported 84 in the same quarter last year.
Analysts predict that the 'Average restaurant sales - TTM' will reach $3.09 million. Compared to the present estimate, the company reported $3.13 million in the same quarter last year.
The combined assessment of analysts suggests that 'Company-operated restaurants at beginning of period' will likely reach 4,186 . The estimate is in contrast to the year-ago figure of 3,839 .
View all Key Company Metrics for Chipotle here>>>Shares of Chipotle have experienced a change of -12.1% in the past month compared to the -1.2% 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 Report
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