Why Chipotle's Earnings Beat Doesn't Matter
Chipotle Mexican Grill (NYSE: CMG) shares initially spiked after the company's second quarter earnings call, as the company reported $2.32 in earnings per share, beating analysts' expectations by $0.14.
But the bottom-line beat took attention away from the company struggling sales -- its top-line came in below expectations, and given the recent norovirus outbreak in Virginia, the sales disappointment is likely to continue in the coming quarters.
Image source: Getty Images.
Source: Fool.com
Chipotle Mexican Grill Inc. Stock
€28.40
-2.910%
The stock is an absolute favorite of our community with 62 Buy predictions and no Sell predictions.
With a target price of 39 € there is a positive potential of 37.32% for Chipotle Mexican Grill Inc. compared to the current price of 28.4 €.
