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Planet Fitness, Inc. (NYSE:PLNT – Get Rating) – Analysts at William Blair dropped their Q3 2022 earnings per share (EPS) estimates for shares of Planet Fitness in a research note issued to investors on Tuesday, May 10th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of $0.37 for the quarter, down from their prior forecast of $0.39. William Blair also issued estimates for Planet Fitness’ Q4 2022 earnings at $0.52 EPS.
Planet Fitness (NYSE:PLNT – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $186.70 million for the quarter, compared to analyst estimates of $190.44 million. Planet Fitness had a net margin of 7.29% and a negative return on equity of 10.63%. Planet Fitness’s revenue was up 66.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share.
Several other research firms have also issued reports on PLNT. BMO Capital Markets dropped their target price on shares of Planet Fitness from $96.00 to $88.00 in a report on Wednesday. Zacks Investment Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 target price on the stock. in a report on Wednesday, March 2nd. Piper Sandler dropped their target price on shares of Planet Fitness from $87.00 to $72.00 in a report on Wednesday. Cowen raised shares of Planet Fitness to a “hold” rating and lifted their price target for the company from $100.00 to $110.00 in a research note on Wednesday, January 12th. Finally, DA Davidson lifted their price target on shares of Planet Fitness from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, January 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $98.17.
PLNT stock opened at $70.02 on Thursday. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 134.66, a PEG ratio of 2.46 and a beta of 1.16. Planet Fitness has a 12-month low of $67.39 and a 12-month high of $99.60. The company’s fifty day simple moving average is $81.88 and its 200 day simple moving average is $85.75.
Institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. boosted its holdings in Planet Fitness by 26.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 14,043 shares of the company’s stock worth $1,272,000 after purchasing an additional 2,913 shares during the last quarter. WCM Investment Management LLC boosted its holdings in Planet Fitness by 9.3% during the fourth quarter. WCM Investment Management LLC now owns 194,583 shares of the company’s stock worth $17,625,000 after purchasing an additional 16,531 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Planet Fitness by 44.4% in the third quarter. Cubist Systematic Strategies LLC now owns 65,403 shares of the company’s stock valued at $5,137,000 after acquiring an additional 20,106 shares during the last quarter. Raymond James & Associates boosted its stake in Planet Fitness by 60.2% in the fourth quarter. Raymond James & Associates now owns 74,565 shares of the company’s stock valued at $6,754,000 after acquiring an additional 28,028 shares during the last quarter. Finally, Soroban Capital Partners LP boosted its stake in Planet Fitness by 938.3% in the third quarter. Soroban Capital Partners LP now owns 3,196,044 shares of the company’s stock valued at $251,049,000 after acquiring an additional 2,888,217 shares during the last quarter. Institutional investors and hedge funds 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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