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Wall Street analysts expect Chipotle Mexican Grill (CMG) to post quarterly earnings of $0.24 per share in its upcoming report, which indicates a year-over-year increase of 14.3%. Revenues are expected to be $2.85 billion, up 13.4% from the year-ago quarter.
Over the last 30 days, there has been an upward revision of 1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
With that in mind, let's delve into the average projections of some Chipotle metrics that are commonly tracked and projected by analysts on Wall Street.
The average prediction of analysts places 'Revenues- Food and beverage' at $2.84 billion. The estimate indicates a change of +13.6% from the prior-year quarter.
The consensus estimate for 'Revenues- Delivery service' stands at $17.87 million. The estimate suggests a change of +6.6% year over year.
Analysts' assessment points toward 'Company-operated restaurants at end of period' reaching 3,735. Compared to the present estimate, the company reported 3,437 in the same quarter last year.
Analysts predict that the 'Comparable restaurant sales increase' will reach 5.7%. Compared to the present estimate, the company reported 8.4% in the same quarter last year.
The combined assessment of analysts suggests that 'Company-operated restaurants opened' will likely reach 124. Compared to the present estimate, the company reported 121 in the same quarter last year.
Based on the collective assessment of analysts, 'Company-operated restaurants at beginning of period' should arrive at 3,615. Compared to the current estimate, the company reported 3,321 in the same quarter of the previous year.
Analysts expect 'Average restaurant sales - TTM' to come in at $3.18 million. Compared to the current estimate, the company reported $3.02 million in the same quarter of the previous year.
View all Key Company Metrics for Chipotle here>>>
Over the past month, Chipotle shares have recorded returns of -1.5% versus the Zacks S&P 500 composite's +2.9% change. Based on its Zacks Rank #2 (Buy), CMG will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>