Chipotle Reports Another Excellent Quarter – But Can The Stock Go Higher?

Well, no surprise here: Chipotle (CMG) reported another awesome quarter (CMG 3Q Earnings Release):

  • Revenues were up 36% to $286 million – analysts were looking for $279 million. 
  • Same store sales were up 12.4% from the third quarter of last year. 
  • Net Income was up 75% to $20.6 million or 62 cents a share – analysts were looking for 53 cents

This is definitely a strong quarter even given expectations.

But was it all in the stock already?  Can shares go higher?

UPDATE (Tue 10/30, 6:30pm PST): Chipotle shares finished the after hours session up 3.15% to $137.70.

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