Yahoo Finance Buffalo Wild Wings falls as 4Q revenue misses
Buffalo Wild Wings falls as 4th-quarter revenue misses Wall Street's expectations
NEW YORK (AP) -- Shares of Buffalo Wild Wings dropped Wednesday as the restaurant operator's fiscal fourth-quarter revenue missed analysts' estimates.
On Tuesday Buffalo Wild Wings Inc. reported quarterly earnings of $1.10 per share on revenue of $341.5 million. Analysts polled by FactSet predicted earnings of $1.06 per share on revenue of $347.1 million.
Lynne Collier of Sterne, Agee & Leach said in a note to clients that bad weather during the quarter didn't seem to affect Buffalo Wild Wing's overall performance, but lower-than-expected average weekly sales hurt revenue.
The analyst also said that Buffalo Wild Wings reaffirmed its forecast for full-year earnings per share growth of 20 percent. Collier believes this may be conservative, and is likely beatable.
The analyst maintained a "Neutral" rating.
Jefferies' Alexander Slagle also thinks Buffalo Wild Wings could outperform its full-year earnings outlook, saying its same-store sales are outperforming, wing costs are still low and the company continues to manage labor costs better than expected.
The analyst kept a "Hold" rating and $148 price target.
Buffalo Wild Wings' stock fell $12.62, or 9 percent, to $128.13 in morning trading. Over the past year, the shares are up 85 percent.
