Brokerages expect Planet Fitness, Inc. (NYSE:PLNT – Get Rating) to post earnings of $0.37 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Planet Fitness’ earnings. The lowest EPS estimate is $0.33 and the highest is $0.40. Planet Fitness reported earnings per share of $0.21 during the same quarter last year, which suggests a positive year-over-year growth rate of 76.2%. The firm is expected to report its next earnings report on Monday, January 1st.
On average, analysts expect that Planet Fitness will report full-year earnings of $1.54 per share for the current year, with EPS estimates ranging from $1.50 to $1.60. For the next year, analysts expect that the business will report earnings of $2.17 per share, with EPS estimates ranging from $2.00 to $2.46. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Planet Fitness.
Planet Fitness (NYSE:PLNT – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $186.70 million for the quarter, compared to analysts’ expectations of $190.44 million. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The firm’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share.
PLNT has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 target price on the stock in a research note on Wednesday, May 11th. StockNews.com assumed coverage on shares of Planet Fitness in a research note on Thursday, March 31st. They set a “hold” rating on the stock. BMO Capital Markets decreased their price objective on shares of Planet Fitness from $96.00 to $88.00 in a research note on Wednesday, May 11th. DA Davidson decreased their price objective on shares of Planet Fitness from $110.00 to $90.00 in a research note on Friday, May 13th. Finally, Piper Sandler decreased their price objective on shares of Planet Fitness from $87.00 to $72.00 in a research note on Wednesday, May 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $96.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in PLNT. Moors & Cabot Inc. acquired a new stake in Planet Fitness in the third quarter worth $26,000. Liberty Wealth Management LLC increased its position in shares of Planet Fitness by 388.6% during the third quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock worth $29,000 after acquiring an additional 272 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in shares of Planet Fitness during the third quarter worth $30,000. O Dell Group LLC bought a new stake in shares of Planet Fitness during the first quarter worth $30,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Planet Fitness during the fourth quarter worth $33,000. Institutional investors and hedge funds own 93.87% of the company’s stock.
NYSE PLNT traded down $2.63 on Friday, reaching $65.19. The company’s stock had a trading volume of 1,405,090 shares, compared to its average volume of 1,080,889. The firm has a market cap of $5.93 billion, a PE ratio of 101.86, a price-to-earnings-growth ratio of 2.20 and a beta of 1.16. The business has a 50-day moving average price of $80.50 and a 200 day moving average price of $85.24. Planet Fitness has a 52 week low of $64.11 and a 52 week high of $99.60.
Planet Fitness Company Profile (Get Rating)
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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