Imperial Capital Cuts Price Target on ClubCorp Holdings (MYCC) to $16 Following 3Q Report
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Imperial Capital maintained an Outperform rating on ClubCorp Holdings (NYSE: MYCC), and cut the price target to $16.00 (from $21.00), following the company's 3Q earnings report. At the end of 2016, ClubCorp will have completed reinvention capex at nearly all 2014-2016 acquired clubs. Additionally, ClubCorp is nearing completion of a major IT upgrade.
Analyst George Kelly commented, "On 10/13/16, ClubCorp reported mixed 3Q16 results. EBITDA of $59mn slightly beat our estimate, while revenue of $259mn missed our estimate by $6mn. The company lowered its annual revenue guidance to $1,085mn at midpoint ($1,095mn previously), while maintaining the midpoint of EBITDA at $247mn. Growth remains choppy, with organic growth slowing in both the golf and business segments."
Shares of ClubCorp Holdings closed at $11.88 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Checkpoint Software (CHKP) PT Raised to $94 at Stifel Following 4Q Beat
- Instinet (Nomura) Downgrades Silicon Motion Technology (SIMO) to Neutral
- Polaris Industries (PII) PT Raised to $85 at Stifel Ahead of 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesEarnings, Imperial Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!