Imperial Capital Lowers ClubCorp Holdings Inc. (MYCC) Price Target to $16.00
ClubCorp Holdings Inc. (NYSE:MYCC) had its price target cut by equities research analysts at Imperial Capital from $21.00 to $16.00 in a report released on Monday. The firm presently has an “outperform” rating on the stock. Imperial Capital’s price target points to a potential upside of 31.90% from the company’s previous close.
Several other equities research analysts also recently issued reports on the company. Jefferies Group set a $27.00 price target on ClubCorp Holdings and gave the company a “buy” rating in a report on Saturday. FBR & Co set a $17.00 price target on ClubCorp Holdings and gave the company a “buy” rating in a report on Saturday. Zacks Investment Research downgraded ClubCorp Holdings from a “hold” rating to a “strong sell” rating in a report on Friday, October 14th. Goldman Sachs Group Inc. assumed coverage on ClubCorp Holdings in a report on Monday, September 26th. They set a “neutral” rating and a $16.00 price target for the company. Finally, Citigroup Inc. cut their price target on ClubCorp Holdings from $17.50 to $17.00 and set a “buy” rating for the company in a report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. ClubCorp Holdings currently has a consensus rating of “Buy” and a consensus price target of $19.00.
Shares of ClubCorp Holdings (NYSE:MYCC) opened at 12.13 on Monday. The stock has a 50 day moving average of $14.55 and a 200 day moving average of $13.65. The company’s market cap is $795.24 million. ClubCorp Holdings has a 12-month low of $9.75 and a 12-month high of $20.82.
ClubCorp Holdings (NYSE:MYCC) last announced its quarterly earnings results on Thursday, October 13th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.06. ClubCorp Holdings had a negative net margin of 0.74% and a negative return on equity of 0.22%. The business had revenue of $259.33 million for the quarter, compared to analyst estimates of $264.83 million. During the same period in the prior year, the business earned $0.02 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts expect that ClubCorp Holdings will post $0.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Monday, October 10th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.29%. This is a boost from ClubCorp Holdings’s previous quarterly dividend of $0.12. ClubCorp Holdings’s dividend payout ratio (DPR) is presently -400.00%.
In other ClubCorp Holdings news, EVP Andrew V. Miller sold 2,000 shares of ClubCorp Holdings stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $14.94, for a total value of $29,880.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYCC. Deprince Race & Zollo Inc. acquired a new position in ClubCorp Holdings during the second quarter worth about $27,615,000. Wellington Management Group LLP boosted its position in ClubCorp Holdings by 58.5% in the first quarter. Wellington Management Group LLP now owns 2,681,689 shares of the company’s stock worth $37,651,000 after buying an additional 989,468 shares in the last quarter. Bayesian Capital Management LP acquired a new position in ClubCorp Holdings during the first quarter worth about $208,000. Kennedy Capital Management Inc. boosted its position in ClubCorp Holdings by 116.1% in the first quarter. Kennedy Capital Management Inc. now owns 147,847 shares of the company’s stock worth $2,076,000 after buying an additional 79,440 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in ClubCorp Holdings by 11.1% in the first quarter. BlackRock Group LTD now owns 279,573 shares of the company’s stock worth $3,925,000 after buying an additional 27,821 shares in the last quarter. Hedge funds and other institutional investors own 97.31% of the company’s stock.
About ClubCorp Holdings
ClubCorp Holdings, Inc is a membership-based leisure company. The Company is the owner-operator of private golf and country clubs, and business, sports and alumni clubs in North America. The Company’s segments include Golf and Country Clubs; Business, Sports and Alumni Clubs, and Other. The Company’s Golf and country club operations consist of private country clubs, golf clubs and public golf facilities.
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