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Actionable news in CMG: CHIPOTLE MEXICAN GRILL Inc,

Chipotle shares sink after co-CEO says he is 'nervous' about hitting year-end guidance

Shares of Chipotle Mexican Grill fell more than 7 percent on Tuesday after the company said that it was "nervous" about hitting the guidance it provided in October.

In that forecast, Chipotle said same-stores sales would fall at a low-single digit rate in the fourth quarter and would rise at a high-single digit rate in 2017.

"I'm not satisfied with the rate of recovery and the quality of the restaurant experience," co-CEO Steve Ells told investors at a conference on Tuesday.

Mark Kalinowski, an analyst with Instinet, reduced his EPS estimates for the fourth quarter to 95 cents from $1.30 and its full-year 2016 estimates to $1.46 from $1.91 following Ells' comments.

"Our reduced EPS estimates reflect remarks made by Chipotle management today that about half of the company's 2,000 brand-Chipotle restaurants would be graded 'C...


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