Planet Fitness, Inc. (NYSE:PLNT – Get Rating) – Equities research analysts at Jefferies Financial Group reduced their Q3 2022 EPS estimates for Planet Fitness in a research note issued to investors on Tuesday, May 10th. Jefferies Financial Group analyst R. Konik now forecasts that the company will post earnings of $0.42 per share for the quarter, down from their prior estimate of $0.48. Jefferies Financial Group also issued estimates for Planet Fitness’ Q2 2023 earnings at $0.55 EPS, Q3 2023 earnings at $0.56 EPS and Q4 2023 earnings at $0.54 EPS.
Planet Fitness (NYSE:PLNT – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Planet Fitness had a negative return on equity of 10.63% and a net margin of 7.29%. The company had revenue of $186.70 million for the quarter, compared to analyst estimates of $190.44 million. During the same period in the prior year, the firm earned $0.10 earnings per share. Planet Fitness’s revenue for the quarter was up 66.8% on a year-over-year basis.
A number of other equities research analysts have also commented on the company. StockNews.com began coverage on Planet Fitness in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley increased their price target on Planet Fitness from $101.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, January 12th. DA Davidson increased their price target on Planet Fitness from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, January 12th. Cowen raised Planet Fitness to a “hold” rating and raised their target price for the company from $100.00 to $110.00 in a research report on Wednesday, January 12th. Finally, Piper Sandler decreased their target price on Planet Fitness from $87.00 to $72.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Planet Fitness currently has a consensus rating of “Buy” and a consensus target price of $98.17.
NYSE PLNT opened at $70.02 on Thursday. The firm has a market capitalization of $6.37 billion, a P/E ratio of 134.66, a PEG ratio of 2.46 and a beta of 1.16. The business has a fifty day simple moving average of $81.88 and a 200 day simple moving average of $85.75. Planet Fitness has a 12 month low of $67.39 and a 12 month high of $99.60.
Several hedge funds have recently bought and sold shares of PLNT. Soroban Capital Partners LP grew its stake in shares of Planet Fitness by 938.3% during the 3rd quarter. Soroban Capital Partners LP now owns 3,196,044 shares of the company’s stock worth $251,049,000 after acquiring an additional 2,888,217 shares during the period. Artemis Investment Management LLP grew its stake in shares of Planet Fitness by 225.3% during the 4th quarter. Artemis Investment Management LLP now owns 1,599,934 shares of the company’s stock worth $144,765,000 after acquiring an additional 1,108,100 shares during the period. Eagle Asset Management Inc. grew its stake in shares of Planet Fitness by 79.2% during the 4th quarter. Eagle Asset Management Inc. now owns 1,914,220 shares of the company’s stock worth $174,825,000 after acquiring an additional 846,128 shares during the period. Norges Bank bought a new position in Planet Fitness in the 4th quarter worth about $73,431,000. Finally, Alliancebernstein L.P. boosted its stake in Planet Fitness by 37.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,771,855 shares of the company’s stock worth $251,075,000 after purchasing an additional 748,189 shares during the period. 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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