Chipotle Mexican Grill (NYSE: CMG) Breakout Signals 'Buy' Now

Chipotle Mexican Grill (NYSE: CMG), the famed operator of quick service Mexican restaurants, soared to a new high on Friday after reporting fourth-quarter results. Earnings of $2.53 per share were up 30% year over year, matching analysts' estimates. And the company handsomely beat on the top line, reporting a 21% year-over-year revenue increase to $844.1 million versus an estimated $826.3 million.

During the conference call that followed the earnings announcement, the company discussed that an increase in prices on its menu is likely later in 2014, which comes as a direct results of higher input/ingredient costs for crucial items like beef and avocados. This is something that investors have also heard from other restaurant companies in recent weeks, and thus likely came as less of a surprise.  (more)

Please share this article