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Chipotle Mexican Grill Inc. (NYSE: CMG) is preparing to release its second quarter financial results after the markets close on Thursday. The consensus estimates are $2.81 in earnings per share (EPS) and $1.26 billion in revenue, which compare with the $2.32 per share and $1.17 billion posted in the same period of last year.

The burrito chain recently announced that it would be instigating a few changes to drive the brand forward. Apart from a marketing blitz and loyalty program, Chipotle will be closing some underperforming stores.

As part of its restructuring, Chipotle is shuttering 65 restaurants. The chain also will be adding “in-app” delivery of its products to about 2,000 restaurants by the end of the year.

The company said it would launch a customer loyalty program in 2019 and is exploring offering $2 tacos with a drink as part of a proposed “happy hour.”

The restructuring to execute on the strategy will require changes to the organization and to the culture, which will result in non-recurring charges during the second quarter and over the next several. These non-recurring costs primarily relate to the moving of offices, the restructuring of the organization and closing underperforming restaurants. In aggregate, Chipotle expects these costs, together with a small number of other unusual items, to be in the range of $115 million to $135 million.

Chipotle stock has outperformed the broad markets, with shares up about 56% year to date. In just the past 52 weeks, the stock is up only about 30%.

Prior to the release of the report, a few analysts weighed in on Chipotle:

• Morgan Stanley has an Equal Weight rating and a $398 price target.
• Jefferies has a Hold rating with a $400 price target.
• Mizuho has an Underperform rating with a $330 target.
• Raymond James has a Hold rating.
• SunTrust Banks has a Buy rating with a $490 target price.
• Wells Fargo has a Market Perform rating with a $405 target price.

Shares of Chipotle were last seen trading at $449.19, with a consensus analyst price target of $416.70 and a 52-week range of $247.52 to $474.46.