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Why Chipotle Stock Is Cooking Thursday
Chipotle Mexican Grill Inc (NYSE:CMG) shares are trading higher Thursday after the company reported better-than-expected financial results. Multiple analysts raised price targets on the stock following the print.
Q1 Revenue: $2.702 billion, versus estimates of $2.675 billion
Q1 EPS: $13.37, versus estimates of $11.68
Chipotle’s total first-quarter revenue was up 14.1% on a year-over-year basis. Comparable restaurant sales increased 7% year-over-year due to higher transactions and a 1.6% increase in average check. Digital sales represented 36.5% of food and beverage revenue. Operating margin was 16.3% in the first quarter, up from 15.5% year-over-year.
Chipotle said it opened 47 new restaurants in the quarter, and 43 of those locations included a Chipotlane. The company also ...