Research Analysts’ Weekly Ratings Changes for ClubCorp Holdings (MYCC)

ClubCorp Holdings (NYSE: MYCC) recently received a number of ratings updates from brokerages and research firms:

  • 9/26/2016 – ClubCorp Holdings is now covered by analysts at Goldman Sachs Group Inc.. They set a “neutral” rating and a $16.00 price target on the stock.
  • 9/16/2016 – ClubCorp Holdings was upgraded by analysts at Imperial Capital from an “in-line” rating to an “outperform” rating. They now have a $21.00 price target on the stock, up previously from $14.00. They wrote, “We see potential for the letter to compel management and the board to re-focus ClubCorp’s strategy and more fully unlock the value of its assets, which include 30K owned acres and several trophy properties. Additionally, MYCC generates approximately $150 million in annual operating free cash, allowing for more aggressive share buybacks or debt pay-down,” analyst George Kelly wrote in a note.Related Link: What Clubs Will Tiger Woods Use For His Comeback?Kelly also sees potential for ClubCorp to be the target of an acquirer at levels above the current trading given its strong operating cash flow and is nearing the end of a heavy acquisition and investment cycle.”We believe the spending cycle will fall in 2018 and approach more normal levels, returning to a MSD percent range of revenue. Private equity firms have historically been very active in the golf, leisure, and fitness spaces,”
  • 9/16/2016 – ClubCorp Holdings had its “buy” rating reaffirmed by analysts at FBR & Co. They now have a $17.00 price target on the stock. They wrote, “On September 15, 2016, FrontFour Capital Group, which holds ~3.4% of MYCC (part of initial IPO), delivered a letter to CEO Eric Affeldt, explaining its belief that poor investor messaging has led to depressed valuation and urging the board to pursue strategic alternatives, including a potential sale of the company. The issues listed were nothing new to investors and have been talked about for some time now. We believe management has been doing a good job trying to ease concerns and address these issues. However, even with the stock up 32% since our initiation on June 29, 2016, vs. the S&P 500 up 4%, we agree with FrontFour that the stock remains undervalued, and we expect to see continued appreciation as it should become clearer that fundamentals are intact, many of these concerns are nonissues, and reinvention capital and leverage come down.””
  • 9/13/2016 – ClubCorp Holdings had its price target lowered by analysts at Citigroup Inc. from $17.50 to $17.00. They now have a “buy” rating on the stock.
  • 9/9/2016 – ClubCorp Holdings had its “buy” rating reaffirmed by analysts at Stifel Nicolaus.
  • 9/2/2016 – ClubCorp Holdings had its “buy” rating reaffirmed by analysts at Jefferies Group.
  • 8/19/2016 – ClubCorp Holdings was given a new $22.00 price target on by analysts at MKM Partners. They now have a “buy” rating on the stock.

ClubCorp Holdings Inc. (NYSE:MYCC) traded up 0.48% on Monday, hitting $14.54. The company had a trading volume of 114,825 shares. The company’s market capitalization is $953.24 million. The stock’s 50-day moving average price is $14.92 and its 200 day moving average price is $13.69. ClubCorp Holdings Inc. has a one year low of $9.75 and a one year high of $23.04.

ClubCorp Holdings (NYSE:MYCC) last released its quarterly earnings data on Thursday, July 14th. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.04. ClubCorp Holdings had a negative net margin of 0.74% and a negative return on equity of 1.25%. The firm had revenue of $269 million for the quarter. The business’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts expect that ClubCorp Holdings Inc. will post $0.21 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 10th will be issued a dividend of $0.13 per share. This is an increase from ClubCorp Holdings’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.52 annualized dividend and a dividend yield of 3.59%. ClubCorp Holdings’s dividend payout ratio (DPR) is -399.97%.

In related news, EVP Andrew V. Miller sold 2,000 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $14.94, for a total transaction of $29,880.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.

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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