ClubCorp Holdings, Inc. (MYCC) to Issue Quarterly Dividend of $0.13
ClubCorp Holdings, Inc. (NYSE:MYCC) declared a quarterly dividend on Monday, July 10th, NASDAQ reports. Shareholders of record on Friday, July 21st will be given a dividend of 0.13 per share on Friday, July 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, July 19th.
ClubCorp Holdings has a payout ratio of 144.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect ClubCorp Holdings to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 81.3%.
Shares of ClubCorp Holdings (NYSE:MYCC) remained flat at $17.05 during midday trading on Tuesday. 1,107,147 shares of the stock traded hands. The stock’s market cap is $1.12 billion. The firm’s 50 day moving average is $15.41 and its 200 day moving average is $15.21. ClubCorp Holdings has a 52 week low of $10.80 and a 52 week high of $17.60.
ClubCorp Holdings (NYSE:MYCC) last announced its earnings results on Thursday, July 20th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.14. The firm had revenue of $276.35 million during the quarter, compared to analysts’ expectations of $276.51 million. ClubCorp Holdings had a negative net margin of 0.04% and a positive return on equity of 9.50%. Equities research analysts forecast that ClubCorp Holdings will post $0.24 EPS for the current fiscal year.
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A number of research firms have commented on MYCC. BidaskClub raised shares of ClubCorp Holdings from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research downgraded shares of ClubCorp Holdings from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Stifel Nicolaus cut shares of ClubCorp Holdings from a “buy” rating to a “hold” rating and lowered their price target for the company from $18.00 to $17.00 in a report on Wednesday, July 26th. MKM Partners cut shares of ClubCorp Holdings from a “buy” rating to a “neutral” rating and set a $17.00 price target on the stock. in a report on Thursday, July 20th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $27.00 target price on shares of ClubCorp Holdings in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $18.33.
About ClubCorp Holdings
ClubCorp Holdings, Inc, incorporated on November 10, 2010, is engaged in membership-based leisure business. The Company is also the owner-operator of private golf and country clubs, and business, sports and alumni clubs in North America. The Company operates through two segments: golf and country clubs, and business, sports and alumni clubs.
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