Chipotle Mexican Grill, Inc. (NYSE: CMG) shares are trading lower Thursday after the business reported combined 3rd quarter monetary outcomes and anticipated low single-dit decreases in similar dining establishment sales for 2025.
What To Know: Chipotle reported adjusted revenues per share of 29 cents, in line with the agreement quote. The business published income of $3.0 billion, missing out on the agreement quote of $3.02 billion.
Similar dining establishment sales increased 0.3% year-over-year, driven by a 1.1% boost in typical check, partly balanced out by a 0.8% decrease in deals. Running margin was up to 15.9% from 16.9% in the very same quarter in 2015, while restaurant-level operating margin decreased to 24.5% from 25.5%.
Chipotle opened 84 company-owned dining establishments throughout the quarter, consisting of 64 with a Chipotlane drive-thru, and 2 global partner-operated areas. Digital sales represented 36.7% of overall food and drink income.
The business bought $686.5 countless stock throughout the quarter at a typical cost of $42.39 per share.
Outlook: Chipotle anticipates full-year similar dining establishment sales decreases in the low-single-digit variety. Management likewise prepares for 315 to 345 brand-new company-owned dining establishment openings in 2025, with over 80% including a Chipotlane.
Expert Modifications: Following the revenues report, several experts released cost target modifications.
- Truist Securities expert Jake Bartlett kept a Buy ranking on Chipotle and reduced the cost target from $ 53 to $ 45.
- Keybanc expert Eric Gonzalez kept an Obese ranking on Chipotle and reduced the cost target from $ 52 to $ 45.
- Mizuho expert Nick Setyan kept a Neutral ranking on Chipotle and reduced the cost target from $ 40 to $ 34.
- BTIG expert Peter Saleh kept a Buy ranking on Chipotle and reduced the cost target from $ 57 to $ 45.
- TD Cowen expert Andrew M. Charles kept a Buy ranking on Chipotle and reduced the cost target from $ 45 to $ 40.
See Likewise: Comcast Beats Q3 Price Quotes As Style Parks Shine, Broadband Losses Mount
CMG Rate Action: At the time of composing, Chipotle shares are trading 17.23% lower at $32.91, according to information from Benzinga Pro.
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