Landry's Restaurants, Inc. (NYSE:LNY)
A national restaurant, hospitality and entertainment company engaged in the ownership and operation of casual dining restaurants under the names of Rainforest Cafe, Landry's Seafood House, Charley's Crab and The Chart House etc.
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Recs
Because Fools dissed it in the article...
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A retaurant with almost $1BB in debt, $65MM in cash and greater than 40 P/E 2010 earnings...
definite sell.
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EPS 08: 1.69 pe: 8.4
EPS 09: -.35 pe: 0
EPS 10: .35 pe: 40.6
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Don't know, don't like it right now.
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Good foundation.
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Poor fundamentals, questionable management, liquidity issues
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Known employment of personnel that have a history of taking down a good thing.
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I LIIVE IN HOUSTON AND DO BUSINESS WITH SEVERAL PEOPLE WHO SERVICE THIS COMPANY. THEY HAVE ALWAY'S SLOW PAID THEIR BILLS . THE OWNER HAS BEEN CAUGHT FUNNELING COMPANY BUSINESS TO A AFFILIATED COMPANY OWNED BY HIS WIFE AND COULD NOT GET HIS FINANCIALS TO HIS AUDITORS LAST YEAR IN TIME TO SAVE HIS COMPANY TENS OF MILLIONS OF DOLLARS IN NEW FINANCING COST. TO MAKE MATTERS WORSE HIS CASINO BUSINESS LIKE MOST OF THE REST IS DROWNING IN RED INK.
RUN DO NOT WALK FROM THIS COMPANY!!!
Recs
Dropped 40% on news of not going private, but that's it? Quick rebound to $9.00. 2 weeks tops.
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bad investment....just another enron like company........the golden nugget in las vegas is running on a short staff...its dirty ,filthy ..the place is overrun by roaches( see las vegas newspaper health department write up)
there is a F&B manager a arab who is destroying this place the food is bad and cheap...everything out of bags and warmed up....
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LNY's golden nugget borrowed to pay back a loan that was not due for another fo another four years. if payments could not be made in that amout of time what does it mean? profits were up for LNY still borrowing that amout to pay back a loan that far off. what does that tell one about the companies outlook on it's own future?
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Massive debt and loud, tatty restaurants. A poor recipe for long term success.
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If you want to enjoy great food and play games with hospitality Landry’s is the place to be at. Landry's Restaurants, Inc. is a diversified restaurant hospitality and entertainment company engaged in the ownership and operation of full-service, casual dining restaurants. The company’s portfolio of brands consists of Rainforest Cafe, Saltgrass Steak House, Landry's Seafood House, The Crab House, Charley's Crab and The Chart House. The company offers concepts ranging from upscale steak and seafood restaurants to casual theme-based restaurants.
The company recently completed the sale of 120 Joe’s Crab Shack units for $192MM. The performance of Joe’s had been deteriorating over the last two years, with the recent two quarters being the worse of them. The concept posted a negative 8% same-store sales in third quarter of 2006 due to which the positive performance shown by the other concepts of the company was masked. The removal of Joe’s from Landry’s will ultimately help the company to refocus on the its other concepts, which are doing quite well. The other concepts posted a same-store sales growth of 3% in the recent quarter. The company has applied majority of its proceeds from the Joe’s sale in reducing its debt, which will improve the leverage position of the company and will help to increase free cash flows.
Landry’s is slowly transitioning itself from being only a restaurant company to an entertainment company with focus on restaurant, gaming and hospitality. In line with this approach the company has acquired the Golden Nugget casinos in Las Vegas, which is showing a steady growth and has given Landry a better competitive position in the market. Additionally, focused approach on only performing concepts will help the company reap benefits in the future and is expected to reward the shareholders with higher returns.
Recs
Soon to spin off some restaurants or maybe sell them. Lower gas prices results in more money to eat out
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