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Wall Street analysts expect that Planet Fitness, Inc. (NYSE:PLNT – Get Rating) will announce $229.90 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Planet Fitness’ earnings. The highest sales estimate is $242.27 million and the lowest is $219.50 million. Planet Fitness reported sales of $137.25 million in the same quarter last year, which indicates a positive year-over-year growth rate of 67.5%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Planet Fitness will report full year sales of $913.44 million for the current financial year, with estimates ranging from $897.00 million to $920.70 million. For the next financial year, analysts expect that the company will report sales of $1.09 billion, with estimates ranging from $1.05 billion to $1.16 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Planet Fitness.
Planet Fitness (NYSE:PLNT – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The company had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $190.44 million. During the same quarter in the prior year, the company earned $0.10 EPS. Planet Fitness’s revenue was up 66.8% compared to the same quarter last year.
Several analysts recently issued reports on PLNT shares. DA Davidson dropped their price objective on shares of Planet Fitness from $110.00 to $90.00 in a research note on Friday, May 13th. BMO Capital Markets dropped their price objective on shares of Planet Fitness from $96.00 to $88.00 in a research note on Wednesday, May 11th. Piper Sandler dropped their price target on shares of Planet Fitness from $87.00 to $72.00 in a research note on Wednesday, May 11th. TheStreet cut shares of Planet Fitness from a “b-” rating to a “c” rating in a research note on Thursday, February 24th. Finally, Zacks Investment Research cut shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 price target for the company. in a research note on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Planet Fitness has an average rating of “Buy” and a consensus target price of $96.50.
Shares of NYSE PLNT opened at $66.76 on Tuesday. Planet Fitness has a 12-month low of $62.86 and a 12-month high of $99.60. The stock has a market cap of $6.08 billion, a PE ratio of 104.31, a P/E/G ratio of 2.20 and a beta of 1.16. The company has a 50-day moving average of $80.18 and a 200 day moving average of $85.08.
Several hedge funds have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. lifted its holdings in Planet Fitness by 3.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,417 shares of the company’s stock worth $310,000 after buying an additional 122 shares in the last quarter. Arizona State Retirement System lifted its holdings in Planet Fitness by 0.6% during the 1st quarter. Arizona State Retirement System now owns 22,529 shares of the company’s stock worth $1,903,000 after buying an additional 127 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Planet Fitness by 29.7% during the 4th quarter. Global Retirement Partners LLC now owns 563 shares of the company’s stock worth $51,000 after buying an additional 129 shares in the last quarter. Royal Bank of Canada lifted its holdings in Planet Fitness by 0.8% during the 3rd quarter. Royal Bank of Canada now owns 17,076 shares of the company’s stock worth $1,342,000 after buying an additional 141 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Planet Fitness by 0.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 48,806 shares of the company’s stock worth $4,421,000 after buying an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 93.87% of the company’s stock.
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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