NEW YORK (TheStreet) -- Shares of Six Flags Entertainment (SIX) - Get Report were up in Wednesday afternoon trading, despite the company missing earnings and revenue expectations when it reported third quarter results before the market opened.
The theme park operator posted earnings of $1.09 per share, well below analyst expectations of $1.63. Six Flags reported revenue of $557.6 million, south of analyst expectations of $588.9 million.
CEO John Duffey told CNBC that some of the company's revenue miss can be chalked up to bad weather.
"Weather is something we have to deal with all the time. And we did see some adverse weather, really in the first half of the third quarter, that impacted our attendance," Duffey said on "Power Lunch." "The good news is that in the back half of the quarter, we saw double-digit attendance growth."
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate SIX FLAGS ENTERTAINMENT CORP as a Buy with a ratings score of B-. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and increase in stock price during the past year. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: SIX