ClubCorp Holdings Inc. (MYCC) Price Target Cut to $16.00
ClubCorp Holdings Inc. (NYSE:MYCC) had its price objective dropped by research analysts at Imperial Capital from $21.00 to $16.00 in a note issued to investors on Monday, StockTargetPrices.com reports. The brokerage presently has an “outperform” rating on the stock. Imperial Capital’s price objective suggests a potential upside of 34.68% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. Bank of America Corp. restated a “buy” rating on shares of ClubCorp Holdings in a report on Sunday, July 17th. Deutsche Bank AG restated a “buy” rating on shares of ClubCorp Holdings in a report on Sunday, July 17th. Zacks Investment Research cut shares of ClubCorp Holdings from a “hold” rating to a “strong sell” rating in a report on Friday. Jefferies Group set a $27.00 price objective on shares of ClubCorp Holdings and gave the company a “buy” rating in a report on Saturday. Finally, FBR & Co set a $17.00 price objective on shares of ClubCorp Holdings and gave the company a “buy” rating in a report on Saturday. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.22.
ClubCorp Holdings (NYSE:MYCC) opened at 11.88 on Monday. The firm’s 50-day moving average is $14.68 and its 200-day moving average is $13.68. The firm’s market cap is $778.85 million. ClubCorp Holdings has a 52 week low of $9.75 and a 52 week high of $20.90.
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ClubCorp Holdings (NYSE:MYCC) last announced its quarterly earnings results on Thursday, October 13th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $259.33 million for the quarter, compared to analyst estimates of $264.83 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. ClubCorp Holdings’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts anticipate that ClubCorp Holdings will post $0.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 10th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Wednesday, October 5th. This is an increase from ClubCorp Holdings’s previous quarterly dividend of $0.12. ClubCorp Holdings’s payout ratio is currently -400.00%.
In other news, EVP Andrew V. Miller sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $14.94, for a total transaction of $29,880.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its stake in ClubCorp Holdings by 5.0% in the second quarter. Legal & General Group Plc now owns 14,602 shares of the company’s stock valued at $186,000 after buying an additional 689 shares during the period. State Board of Administration of Florida Retirement System increased its stake in ClubCorp Holdings by 8.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 12,223 shares of the company’s stock valued at $159,000 after buying an additional 973 shares during the period. US Bancorp DE increased its stake in ClubCorp Holdings by 15.8% in the second quarter. US Bancorp DE now owns 7,972 shares of the company’s stock valued at $104,000 after buying an additional 1,089 shares during the period. Teacher Retirement System of Texas increased its stake in ClubCorp Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,033 shares of the company’s stock valued at $117,000 after buying an additional 1,096 shares during the period. Finally, Janus Capital Management LLC increased its stake in ClubCorp Holdings by 0.7% in the second quarter. Janus Capital Management LLC now owns 180,584 shares of the company’s stock valued at $2,348,000 after buying an additional 1,242 shares during the period. Hedge funds and other institutional investors own 97.31% of the company’s stock.
ClubCorp Holdings Company Profile
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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