Investors are Watching These Entertainment Services Stocks After Earnings
Wynn Resorts, Limited (NASDAQ:WYNN) reported its results for the third quarter. Reported a profit of $127.1 million ($1.01 per diluted share) in the quarter. Wynn Resorts, Limited had a net loss of $33.5 million or a loss 27 rcents per share in the year earlier quarter. Revenue rose 29.1% to $1.3 billion from the year earlier quarter. WYNN reported adjusted net income of $1.05 per share. By that measure, the company fell short of mean estimate of $1.17 per share. Analysts were expecting revenue of $1.29 billion.
Competitors to Watch: Las Vegas Sands Corp. (NYSE:LVS), MGM Resorts International. (NYSE:MGM), Pinnacle Entertainment, Inc (NYSE:PNK), Melco Crown Entertainment Ltd (NASDAQ:MPEL), Boyd Gaming Corporation (NYSE:BYD), Riviera Holdings Corp. (RVHLQ), Archon Corporation (ARHND), Asia Entertainment & Resources Ltd. (NASDAQ:AERL), and Monarch Casino & Resort, Inc. (NASDAQ:MCRI).
Buffalo Wild Wings, Inc. (NASDAQ:BWLD) reported net income above Wall Street’s expectations for the third quarter. Net income for the restaurant rose to $11.3 million (61 cents per share) vs. $8.5 million (47 cents per share) in the same quarter a year earlier. This marks a rise of 32.5% from the year earlier quarter. Revenue rose 30.7% to $197.8 million from the year earlier quarter. BWLD beat the mean analyst estimate of 58 cents per share. It beat the average revenue estimate of $190.3 million.
“Net earnings increased 32.5% to $11.3 million from $8.5 million, and earnings per diluted share increased 29.8% to $0.61 from $0.47 Sally Smith, President and Chief Executive Officer, commented, “Demand for the Buffalo Wild Wings brand is apparent in our strong same-store sales for the third quarter, with an increase of 5.7% at company-owned restaurants and 4.2% at franchised locations. Unit growth and strong sales in our new and existing restaurants combined to achieve a substantial increase in revenue of 30.7%. We leveraged this revenue growth to accomplish net earnings growth of over 32%, providing our shareholders with earnings per diluted share of $0.61.”
Competitors to Watch: Landry’s Restaurants, Inc (LNY), Ark Restaurants Corp. (NASDAQ:ARKR), Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB), Brinker Intl., Inc. (NYSE:EAT), O’Charley’s Inc. (NASDAQ:CHUX), Flanigan’s Enterprises, Inc. (AMEX:BDL), California Pizza Kitchen, Inc. (NASDAQ:CPKI), BJ’s Restaurants, Inc. (NASDAQ:BJRI), Benihana Inc. (NASDAQ:BNHNA), and P.F. Chang’s China Bistro (NASDAQ:PFCB).