CHIPOTLE MEXICAN GRILL $606.84 (New York symbol CMG; TSINetwork Rating: Speculative) (303-595-4000; www.chipotle.com; Shares outstanding: 31.0 million; Market cap: $18.7 billion; No dividends paid) is a Denver- based Mexican restaurant chain. It charges slightly higher prices than fast food companies, but it offers better quality food, including naturally raised meat, and superior decor and service.
In the three months ended March 31, 2015, Chipotle’s sales jumped 20.4%, to $1.09 billion from $904.2 million a year earlier. Its restaurants attracted more customers during the quarter, which pushed up same-restaurant sales by 10.4%.
Chipotle opened 49 new outlets and now has a total of 1,831. It plans to add 140 to 155 more in 2015. Earnings gained 47.6%, to $122.6 million, or $3.95 a share, from $83.1 million, or $2.67. That’s partly because it raised the prices of some menu items last year, offsetting higher costs for beef and tortillas. The company is a well-established chain with a growing following, especially among health conscious, environmentally aware consumers.
Still, Chipotle operates in the fickle and extremely competitive U.S. restaurant market. It also trades at over 35 times its forecast 2015 earnings of $17.16 a share. That’s a high ratio that leaves the stock vulnerable if Chipotle runs into any short-term problems.
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