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January 31, 2014
10:20 EDTCMG, YUM, JACK, FRGI, CHUYChipotle hits new 52-week high after raising same store sales outlook
Shares of casual Mexican restaurant operator Chipotle Mexican Grill (CMG) hit a new 52-week high after posting strong fourth quarter comparable store sales and raising its sales guidance for 2014. WHAT'S NEW: Last night, Chipotle reported Q4 EPS of $2.53 and revenue of $844.1M against consensus views of $2.53 and $826.3M respectively. The company reported Q4 comparable restaurant sales increased 9.3%. The company raised its 2014 comparable sales growth view to low to mid-single digits from low single digits, citing strong sales momentum from Q4. ANALYST REACTON: This morning, two firms, RBC Capital and Bernstein, raised their respective price targets on Chipotle. RBC Capital raised their price target to $650 from $620. The firm thought the company’s brand momentum remains strong and kept an Outperform rating on the shares. Bernstein raised their price target to $640 from $600 and raised its FY14 EPS estimate for the company to $13.48 from $13.34. Bernstein kept an Outperform rating on the shares. PRICE ACTION: In early morning trading, Chipotle rose over 13% to $561.57 on heavy volume. Earlier in the session, the stock made a new 52-week high of $564.75 and has gained approximately 82% over the past twelve months. OTHERS TO WATCH: Chipotle’s competitors include Yum! Brands' Taco Bell unit (YUM), Jack in the Box' (JACK) Qdoba unit, Fiesta Restaurant Group (FRGI), and Chuy’s (CHUY).
News For CMG;YUM;JACK;FRGI;CHUY From The Last 14 Days
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October 9, 2014
11:42 EDTCMG, JACKRuby Tuesday surges after Q1 profit beats estimates
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09:23 EDTYUMYum! Brands China business still poised to recover, says RBC Capital
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October 8, 2014
10:46 EDTYUMOptions with decreasing implied volatility
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10:09 EDTYUMYum! Brands says commodity costs will be up 3% in Q4
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09:48 EDTYUMYum! Brands sees Q4 SSS to be negative
Expects margins in China to improve as sales improve, but notes that the China sales guidance is still "very difficult" to predict. Says generated $2B of EBITDA so far this year.
09:36 EDTYUMYum! Brands expects China business to 'fully recover'
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09:20 EDTYUMOn The Fly: Pre-market Movers
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07:29 EDTYUMYum! comp weakness in China has bottomed, says UBS
UBS believes Yum! Brands' recovery in China is under way, but that visibility remains limited following yesterday's Q3 results. The firm still has many questions about company strategy, but believes China comp weakness has bottomed. UBS maintains its Buy rating and $85 price target on Yum! Brands shares.
07:20 EDTYUMYum! Brands outlook still positive, says Stifel
After Yum! reported weaker than expected results ex-items, Stifel continues to expect the company to eventually carry out a significant restructuring that could include a partial listing of its China unit in Hong Kong and/or a $15 per share debt recapitalization. The firm continues to believe that Yum! China is one of the best retail businesses in the world. It cut its price target on Yum! to $105 from $110 but keeps a Buy rating on the shares.
October 7, 2014
17:18 EDTYUMYum! Brands reverses direction in after-hours trading, up 1.1%
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16:31 EDTYUMYum! Brands reports Q3 China SSS down 14%
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16:24 EDTYUMYum! Brands down 1% following Q3 results
16:23 EDTYUMYum! Brands expects to develop at least 700 new restaurants in China this year
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16:22 EDTYUMYum! Brands lowers FY14 EPS growth ex-items to 6%-10%
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16:19 EDTYUMYum! Brands provides China update
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16:15 EDTYUMYum! Brands reports Q3 EPS ex-items 87c, consensus 89c
Reports Q3 revenue $3.35B, consensus $3.48B. Worldwide system sales grew 1%. Worldwide restaurant margin decreased 2.7 percentage points to 14.9%, and worldwide operating profit decreased 12%.
15:16 EDTYUMNotable companies reporting after market close
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14:27 EDTYUMYum! Brands October weekly 70 straddle priced for 4.6% move into Q3
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13:03 EDTYUMYum! Brands technical notes ahead of results
The shares have markedly under-performed in the prior three months, trading down over 14%. A great deal of the share price loss came at the front of the interval during the tainted-meat scandal in China. After the initial drop, shares have been basing in a range of $70 at the low and $73 at the high. The base at $70 may be particularly important. If the news is worse than already low expectations, that support at the $70 area could be lost. Next support below would be at $68.20 and then at $66.16. An extreme price reaction could see the 52-week low at $64.08 tested as well or perhaps broken. Equally, an upside surprise could see the top of the range tested at $73. Given low expectations, a bit of stronger news could push the stock through that resistance level. Next upside would be at $73.84, $75.44, and then at $76.33 on an increasing band of positive surprises.
07:51 EDTJACKJack in the Box price target raised to $79 from $65 at Oppenheimer
Oppenheimer believes consensus expectations for same-store sales at the Jack in the Box flagship brand and for Qdoba appear too low and that the company's Q4 results have upside potential. The firm raised its price target on Jack in the Box to $79 and reiterates its Outperform rating on the stock.
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