Chipotle Mexican Grill on Wednesday lowered its annual sales growth target again and missed quarterly sales estimates as economic uncertainty prompts Americans to dine out less, sending the burrito chain's shares down 9.

(Reuters) -Chipotle Mexican Grill on Wednesday lowered its annual sales growth target for a second time this year, as the burrito chain takes stock of economic uncertainty and U.S. consumers dining out less.

Chipotle’s strong balance sheet, with over $2 billion in cash and no debt, provides a cushion amid the choppy consumer landscape. Yet absent a more robust recovery in same-store traffic, maintaining margin momentum and justifying valuation levels could prove challenging in the near term.