Chipotle Stock Outperforms Broader Market on Strong Earnings and Revenue Growth Forecasts
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Chipotle Mexican Grill (CMG) stock beat the S&P 500 and Dow in latest trading, with a 0.87% increase compared to 0.57% and 0.83% gains.
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CMG stock has risen 6.74% over the past month, outpacing sector and market gains.
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CMG is forecasted to post strong Q4 2024 earnings growth of 8.19% year-over-year.
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Revenue for 2024 is projected to rise 12.27% over 2023 to $11.22 billion.
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CMG trades at a premium valuation compared to industry averages, with a forward P/E of 52.23 vs 21 for the sector.