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Chipotle Hits 52-Week High on Earnings

Stocks in this article: CMGMCD

(Chipotle article updated with information on shares reaching a 52-week high.)

NEW YORK ( TheStreet) -- Shares of Chipotle (CMG) surged to a 52-week high in after-hours trading on Thursday after the fast-food chain handily beat expectations and reported a 39.9% rise in earnings for the third quarter.

Shares traded up more than 6% after the closing bell to crest $190 per share.

For the three months ended Sept. 30, the Denver-based fast-food restaurant chain reported earnings of $48.2 million, or $1.52 per diluted share, compared with earnings of $34.5 million, or $1.08 per share, in the same period a year ago.

Analysts had expected earnings of $1.31 per share according to Briefing.com.

>> Restaurant Stocks: Earnings to Watch

Chipotle three-month revenue vaulted 23% to $476.9 million from $387.6 million, driven primarily by the expansion of the company's store base and a 11.4% growth in comparable-store sales.

During the quarter, Chipotle opened 22 new restaurants, bringing the total restaurant count to 1,023.

For the nine months to date, Chipotle saw earnings vault 39.1% to $132.5 million, or $4.18 per share, compared with earnings of $95.2 million, or $95.2 million, in the same period a year ago.

Chipotle nine-month revenue increased 19.7% to $1.35 billion from $1.13 billion.

Chipotle anticipates opening between 135 and 145 additional restaurants next year.

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