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Why Chipotle Mexican Grill (CMG) Dipped More Than Broader Market Today
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The most recent trading session ended with Chipotle Mexican Grill (CMG - Free Report) standing at $53.03, reflecting a -0.58% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.3% loss on the day. Elsewhere, the Dow saw a downswing of 0.54%, while the tech-heavy Nasdaq appreciated by 0.25%.
Shares of the Mexican food chain witnessed a loss of 0.54% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 5.02% and the S&P 500's gain of 3.42%.
Market participants will be closely following the financial results of Chipotle Mexican Grill in its upcoming release. The company plans to announce its earnings on October 29, 2024. The company's earnings per share (EPS) are projected to be $0.24, reflecting a 4.35% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.81 billion, up 13.64% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.08 per share and a revenue of $11.33 billion, signifying shifts of +20% and +14.78%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Chipotle Mexican Grill. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.07% fall in the Zacks Consensus EPS estimate. Chipotle Mexican Grill is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Chipotle Mexican Grill is holding a Forward P/E ratio of 49.23. This expresses a premium compared to the average Forward P/E of 20.35 of its industry.
Meanwhile, CMG's PEG ratio is currently 2.23. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Retail - Restaurants industry stood at 2.09 at the close of the market yesterday.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 152, placing it within the bottom 40% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CMG in the coming trading sessions, be sure to utilize Zacks.com.
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Why Chipotle Mexican Grill (CMG) Dipped More Than Broader Market Today
The most recent trading session ended with Chipotle Mexican Grill (CMG - Free Report) standing at $53.03, reflecting a -0.58% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.3% loss on the day. Elsewhere, the Dow saw a downswing of 0.54%, while the tech-heavy Nasdaq appreciated by 0.25%.
Shares of the Mexican food chain witnessed a loss of 0.54% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 5.02% and the S&P 500's gain of 3.42%.
Market participants will be closely following the financial results of Chipotle Mexican Grill in its upcoming release. The company plans to announce its earnings on October 29, 2024. The company's earnings per share (EPS) are projected to be $0.24, reflecting a 4.35% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.81 billion, up 13.64% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.08 per share and a revenue of $11.33 billion, signifying shifts of +20% and +14.78%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Chipotle Mexican Grill. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.07% fall in the Zacks Consensus EPS estimate. Chipotle Mexican Grill is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Chipotle Mexican Grill is holding a Forward P/E ratio of 49.23. This expresses a premium compared to the average Forward P/E of 20.35 of its industry.
Meanwhile, CMG's PEG ratio is currently 2.23. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Retail - Restaurants industry stood at 2.09 at the close of the market yesterday.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 152, placing it within the bottom 40% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CMG in the coming trading sessions, be sure to utilize Zacks.com.