Analysts expect Planet Fitness, Inc. (NYSE:PLNT – Get Rating) to post sales of $187.99 million for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Planet Fitness’ earnings, with estimates ranging from $164.85 million to $205.00 million. Planet Fitness posted sales of $111.88 million in the same quarter last year, which suggests a positive year over year growth rate of 68%. The business is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that Planet Fitness will report full-year sales of $915.66 million for the current year, with estimates ranging from $902.94 million to $931.80 million. For the next fiscal year, analysts forecast 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 analysts that that provide coverage for Planet Fitness.
Planet Fitness (NYSE:PLNT – Get Rating) last issued its earnings results on Thursday, February 24th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Planet Fitness had a negative return on equity of 10.63% and a net margin of 7.29%. The business had revenue of $183.60 million during the quarter, compared to analyst estimates of $179.03 million. During the same period in the previous year, the company posted $0.17 EPS. The firm’s revenue was up 37.2% compared to the same quarter last year.
A number of brokerages recently commented on PLNT. Evercore ISI began coverage on Planet Fitness in a research report on Monday, March 14th. They issued an “outperform” rating and a $130.00 target price for the company. TheStreet downgraded Planet Fitness from a “b-” rating to a “c” rating in a research note on Thursday, February 24th. StockNews.com started coverage on Planet Fitness in a research note on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $88.00 to $90.00 in a research note on Friday, January 14th. Finally, Cowen upgraded 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $101.17.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Soroban Capital Partners LP lifted 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 purchasing an additional 2,888,217 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Planet Fitness by 225.3% in the fourth quarter. Artemis Investment Management LLP now owns 1,599,934 shares of the company’s stock valued at $144,765,000 after purchasing an additional 1,108,100 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in Planet Fitness by 79.2% in the fourth quarter. Eagle Asset Management Inc. now owns 1,914,220 shares of the company’s stock valued at $174,825,000 after purchasing an additional 846,128 shares during the last quarter. Norges Bank purchased a new position in Planet Fitness in the fourth quarter valued at approximately $73,431,000. Finally, Alliancebernstein L.P. lifted its stake in Planet Fitness by 37.0% in the fourth quarter. Alliancebernstein L.P. now owns 2,771,855 shares of the company’s stock valued at $251,075,000 after purchasing an additional 748,189 shares during the last quarter. Hedge funds and other institutional investors own 98.33% of the company’s stock.
Shares of Planet Fitness stock opened at $81.11 on Tuesday. Planet Fitness has a one year low of $67.89 and a one year high of $99.60. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 155.98, a PEG ratio of 2.67 and a beta of 1.19. The business has a 50-day simple moving average of $86.07 and a 200 day simple moving average of $85.78.
Planet Fitness Company Profile (Get Rating)
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.
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