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What to Watch for in Chipotle’s Q3 Earnings

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Chipotle is scheduled to release its third-quarter earnings on Oct. 21 after the markets close. Let’s look at Wall Street analysts’ consensus expectations for Chipotle in the third quarter.

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When is Chipotle’s earnings date?

Chipotle will likely report its third-quarter results on Oct. 21 during the after-hours trading session. The company has scheduled an earnings conference call on the same day at 4:30 p.m. ET.

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In the third quarter, Wall Street analysts expect Chipotle to post sales of $1.59 billion, which would be 13 percent higher than $1.4 billion in sales in the third quarter of 2019. Analysts also expect Chipotle to post an adjusted EPS of $3.40 in the third quarter compared to $3.82 in the same quarter a year ago.

What is Chipotle’s stock price?

Chipotle stock trades on the NYSE under the ticker symbol “CMG.” The stock was trending upwards in the pre-market trading session on Monday, Oct. 19. Chipotle stock was up about 0.7 percent at $1,348.35 as of 10:53 a.m. ET. The stock fell 0.3 percent on Oct. 16 and closed at $1,339.68 with a market capitalization of about $37 billion.

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Chipotle stock has risen by 5.4 percent in the last five days and 58.3 percent in the last year. The stock is trading 2.6 percent below its 52-week high of $1,384.46 and 225 percent above its 52-week low of $415. Chipotle doesn’t pay cash dividends to its shareholders.

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What is Chipotle’s stock forecast?

Currently, analysts' stock price forecast for Chipotle is $1,310.26, which suggests a 2.8 percent downside. The highest target price of $1,600 implies an 18.7 percent upside, while the lowest target price of $890 suggests a 34 percent downside. Among the 35 Wall Street analysts tracking Chipotle, seven recommend a buy, 23 recommend a hold, and five recommend a sell.

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On Oct. 19, Christopher Carril of RBC Capital increased his target price on Chipotle stock from $1,250 to $1,320 and maintained a sector perform rating on the stock. According to TheFly, “The analyst notes that earnings should be roughly in-line, though he also sees potential for margin and EPS upside amid the company's top-line recovery. Carril also expects Digital to be a key driver for Chipotle in the quarter given the recent management commentary and continued strong app usage data.”

Chipotle's investor relations

Chipotle has scheduled the conference call for its third-quarter earnings on Oct. 21 at 4:30 p.m. ET. Participants can access the live webcast on the company’s investor relations website.

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