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Non-Tech : Lone Star Steakhouse (STAR)
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To: Joshua Wolf who wrote (86)11/21/1997 3:12:00 PM
From: Wolfram  Read Replies (1) of 175
 
Lone Star shares off after conference call

NEW YORK, Nov 21 (Reuters) - Lone Star Steakhouse & Saloon Inc shares fell Friday after the company advised analysts in a conference call to
lower their fourth-quarter earnings estimates for the company, analysts said.

In mid-afternoon trading, the shares were off 3-2/16 at 18-1/8 on volume of more than 2.7 million shares.

The company was not immediately available for comment.

Analysts said Lone Star directed analysts to change their fourth quarter estimates to between $0.40 and $0.42 per share. First Call listed analysts'
consensus estimate for the company's fourth quarter at $0.49 per share.

The company also told analysts to lower their 1998 estimates for the company, although did not indicate by how much, analysts said.

The company said that for the fourth-quarter to date, its same-store sales were down 6.5 percent compared with the year-earlier period.

''The main part of the call was them talking about their comfort-level with analysts' estimates for the quarter,'' said Lynne Collier, an analyst at
Rauscher Pierce.

''They also indicated they're running some kind of focus-group analysis,'' she said.

In the focus-group analysis, consumers said Lone Star's menu was fairly limited and the music was too loud, making it difficult to talk, Collier
said.

She said the company indicated it would conclude the focus-group over the next several months.
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