Chipotle Added To S&P 500; Falls After Earnings (CMG)

Chipotle Mexican Grill CMG released its Q1 earnings results on Wednesday. The company reported 22.7% year over year EPS growth, to $1.46 versus $1.19 in the year ago quarter. This came in ahead of analysts' consensus of $1.44. Revenue was up 24.3% to $509.4 million compared to $409.7 million in the year ago period. This also beat consensus estimates of $494.78 million. Despite the healthy results, CMG shares fell in after hours trading yesterday due to margin compression and the stock's robust valuation. Shortly thereafter, however, news crossed the wires that CMG would be added to the S&P 500, replacing Novell NOVL, which caused the stock to reverse sharply in the after hours. During Thursday's trading session, however, Chipotle is trading down 3.45% to $278.37, as the S&P 500 addition has not been able to overcome investor profit taking in the wake of the company's earnings report.