Chipotle Stock Is Up Over 90% This Year, And Could Go Higher After Beating Earnings

  • 📰 Forbes
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

The once under-fire burrito chain delivered yet another quarter of solid growth.

The top-performing stock in the S&P 500 this year, Chipotle beat third-quarter earnings expectations on Tuesday, as the fast-casual burrito chain continues its meteoric comeback from a string of food safety issues several years ago.that came in higher than analyst estimates, thanks to strong sales momentum—especially in digital platforms like delivery, success of new menu items like carne asada and more favorable avocado prices.

Chipotle’s earnings mark yet another quarter of impressive growth, cementing the burrito chain’s rebound from a series of food safety lapses, such as E. coli outbreaks and salmonella, that plagued the restaurant from 2015 to 2017. Third-quarter profits were $3.82 per share, compared with $3.22 expected; overall sales grew almost 15% to $1.4 billion, with revenue for 2019 now expected to hit $5.5 billion—a marked increase from $4 billion two years ago.

Digital sales, spurred by expanded delivery and pickup options as well as a new Chipotle loyalty app, also continued to grow dramatically.in after-hours trading; overall, the stock has soared more than 90% this year and is up over 160% over the last two years.Chipotle’s price target going before earnings: Goldman Sachs analysts maintained that the stock could surpass $1,000 per share, while Bank of America Merrill Lynch analysts upgraded their price target to $850.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

cj_816 gsmith_14 __CNote

So, they dont poison people any more?

I don't need to pay for irritable bowels

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street is sounding the alarm as a key source of stock-market buying evaporatesShare buybacks fell 18% year-over-year in the second quarter, Goldman analysts found, and the second half of the year will likely see further decline. STOCK BUY BACKS ONLY MAKE THE THE ECONOMY LOOK LIKE IT'S DOING WELL THEY USED TRUMP TAX CUTS TO BUY THERE OWN STOCK ENRICH THEMSELVES NOT REINVEST IN ECONOMY BY CREATING NEW JOBS
Source: BusinessInsider - 🏆 729. / 51 Read more »

Peloton stock analysts initiate coverage, are overwhelmingly bullish - Business InsiderPeloton just got a slew of 'buy' ratings from analysts who think the bike company is poised for major growth and could turn profit within five years.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market investing: US versus global equities trend set to reverse - Business InsiderMORGAN STANLEY: US stocks are poised to end their worldly dominance for the first time since the financial crisis. Here’s the best way to profit from that shift. soooooo..... r we winning yet? 🙄
Source: BusinessInsider - 🏆 729. / 51 Read more »