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Zacks Investment Ideas feature highlights: Chipotle Mexican Grill, Visa and AbbVie
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For Immediate Release
Chicago, IL – July 25, 2023 – Today, Zacks Investment Ideas feature highlights Chipotle Mexican Grill (CMG - Free Report) , Visa (V - Free Report) and AbbVie (ABBV - Free Report) .
3 Non-Tech Reports to Watch This Week
Earnings season is rapidly picking up pace, with a wide variety of companies scheduled to unveil quarterly results this week.
And next week, we’ll have an even bigger slate.
On the minds of many this week is big tech earnings, with several heavyweights slated to report.
While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill, Visa and AbbVie.
Let’s take a closer look at each.
Chipotle: July 26th
Chipotle shares have enjoyed strong price action in 2023, up 50% year-to-date. Analysts have raised their earnings expectations for the company, helping land the stock into a favorable Zacks Rank #2 (Buy).
The revisions trend has been notably positive for the quarter to be reported, with the $12.25 per share estimate up more than 2% since the end of April. The estimate reflects a solid 31% jump in earnings from the year-ago quarter.
Our consensus revenue estimate presently stands at $2.5 billion, suggesting nearly 15% growth year-over-year. Analysts have slightly raised their top line expectations over the last several months, with the quarterly sales estimate up 0.4%.
CMG posted better-than-expected results in its latest quarter, exceeding the Zacks Consensus EPS estimate by nearly 20% and posting a modest revenue surprise. It’s worth noting that the results snapped a streak of negative surprises, helping send CMG shares soaring post-earnings.
Visa: July 25th
Financial titan Visa has consistently been an earnings performer, chaining together 13 consecutive double-beats. In its latest release, the company posted a 6% bottom line beat and reported sales 3% above expectations.
The company’s revenue growth has remained steady.
Analysts haven’t had much to say regarding the upcoming release, with the $2.11 per share estimate up a fractional 0.5% since the end of April. Still, the company is forecasted to see solid growth, with estimates implying 7% earnings growth on 11% higher revenues.
Market participants will likely put focus on Visa’s Total Payment Volume (TPV), a critical metric for the company’s success. The Zacks Consensus estimate for TPV presently implies growth of 7% from the same period last year.
Visa bounced back and was positively surprised on TPV in its latest release following three consecutive misses, exceeding the Zacks Consensus estimate by roughly 1%.
AbbVie: July 27th
AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. Analysts have taken their earnings expectations lower for the quarter to be reported, with the $2.78 per share estimate down nearly 3% since the end of April.
The company’s earnings are expected to decline, with the estimate reflecting a pullback of 17% year-over-year.
However, analysts have shown some positivity regarding the top line, with the $13.5 billion quarterly revenue estimate being moved 1% higher over the last few months. Sales are forecasted to decline alongside earnings, with the estimate suggesting a 7% pullback within the top line.
Bottom Line
It’s not just all about tech earnings this week, with the likes of these stocks all on the docket to report.
Both CMG and V shares have delivered strong gains year-to-date, whereas ABBV shares have faced selling pressure.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks Investment Ideas feature highlights: Chipotle Mexican Grill, Visa and AbbVie
For Immediate Release
Chicago, IL – July 25, 2023 – Today, Zacks Investment Ideas feature highlights Chipotle Mexican Grill (CMG - Free Report) , Visa (V - Free Report) and AbbVie (ABBV - Free Report) .
3 Non-Tech Reports to Watch This Week
Earnings season is rapidly picking up pace, with a wide variety of companies scheduled to unveil quarterly results this week.
And next week, we’ll have an even bigger slate.
On the minds of many this week is big tech earnings, with several heavyweights slated to report.
While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill, Visa and AbbVie.
Let’s take a closer look at each.
Chipotle: July 26th
Chipotle shares have enjoyed strong price action in 2023, up 50% year-to-date. Analysts have raised their earnings expectations for the company, helping land the stock into a favorable Zacks Rank #2 (Buy).
The revisions trend has been notably positive for the quarter to be reported, with the $12.25 per share estimate up more than 2% since the end of April. The estimate reflects a solid 31% jump in earnings from the year-ago quarter.
Our consensus revenue estimate presently stands at $2.5 billion, suggesting nearly 15% growth year-over-year. Analysts have slightly raised their top line expectations over the last several months, with the quarterly sales estimate up 0.4%.
CMG posted better-than-expected results in its latest quarter, exceeding the Zacks Consensus EPS estimate by nearly 20% and posting a modest revenue surprise. It’s worth noting that the results snapped a streak of negative surprises, helping send CMG shares soaring post-earnings.
Visa: July 25th
Financial titan Visa has consistently been an earnings performer, chaining together 13 consecutive double-beats. In its latest release, the company posted a 6% bottom line beat and reported sales 3% above expectations.
The company’s revenue growth has remained steady.
Analysts haven’t had much to say regarding the upcoming release, with the $2.11 per share estimate up a fractional 0.5% since the end of April. Still, the company is forecasted to see solid growth, with estimates implying 7% earnings growth on 11% higher revenues.
Market participants will likely put focus on Visa’s Total Payment Volume (TPV), a critical metric for the company’s success. The Zacks Consensus estimate for TPV presently implies growth of 7% from the same period last year.
Visa bounced back and was positively surprised on TPV in its latest release following three consecutive misses, exceeding the Zacks Consensus estimate by roughly 1%.
AbbVie: July 27th
AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. Analysts have taken their earnings expectations lower for the quarter to be reported, with the $2.78 per share estimate down nearly 3% since the end of April.
The company’s earnings are expected to decline, with the estimate reflecting a pullback of 17% year-over-year.
However, analysts have shown some positivity regarding the top line, with the $13.5 billion quarterly revenue estimate being moved 1% higher over the last few months. Sales are forecasted to decline alongside earnings, with the estimate suggesting a 7% pullback within the top line.
Bottom Line
It’s not just all about tech earnings this week, with the likes of these stocks all on the docket to report.
Both CMG and V shares have delivered strong gains year-to-date, whereas ABBV shares have faced selling pressure.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.