ClubCorp (MYCC) Stock Closed Down on Q2 Earnings Miss
NEW YORK (TheStreet) -- Shares of ClubCorp (MYCC) slumped 4.02% to $14.09 on heavy trading volume Thursday after the Dallas-based company reported weaker-than-expected results for the 2016 second quarter.
Before today's opening bell, the golf and country club operator posted earnings of 8 cents per share, lower than analysts' expectations of 12 cents per share.
Revenue was $269 million for the period, which fell short of Wall Street's estimates of $273.6 million.
Same-store clubs revenue was up 1.2% to $253.7 million during the quarter.
For 2016, ClubCorp sees revenue between $1.09 billion and $1.11 billion. Analysts are looking for revenue of $1.1 billion.
About 1.25 million of the company's shares changed hands today compared to its average 30-day volume of 785,229 shares per day.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and poor profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MYCC