Imperial Capital Cuts Price Target on ClubCorp Holdings (MYCC) to $16 Following 3Q Report
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ClubCorp Reports Tenth Consecutive Quarter of Growth, Narrows Full Year Outlook, and Initiates Strategy to Reduce Leverage
October 13, 2016 7:00 AM EDTDALLAS, TX -- (Marketwired) -- 10/13/16 --
Third quarter revenue was $259.3 million, up 1.6% due to increases in dues and food & beverage revenueThird quarter net income was $1.2 millionThird quarter adjusted EBITDA was $59.0 million, up 7.5%ClubCorp -- The World Leader in Private Clubs® (NYSE: MYCC) -- announces financial results for its fiscal-year 2016 third quarter ended September 6, 2016. The third quarter of fiscal 2016 and fiscal 2015 consisted of 12 weeks. Year-to-date results of fiscal 2016 and fiscal 2015 consisted of 36 weeks. All growth percentages refer to year-over-year... More