Analysts Expect Planet Fitness Inc (NYSE:PLNT) to Announce $0.41 Earnings Per Share

Analysts expect that Planet Fitness Inc (NYSE:PLNT) will report $0.41 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Planet Fitness’ earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.44. Planet Fitness reported earnings of $0.34 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 20.6%. The firm is expected to announce its next quarterly earnings results on Tuesday, February 25th.

According to Zacks, analysts expect that Planet Fitness will report full year earnings of $1.57 per share for the current fiscal year, with EPS estimates ranging from $1.56 to $1.60. For the next financial year, analysts forecast that the business will report earnings of $1.96 per share, with EPS estimates ranging from $1.88 to $2.05. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Planet Fitness.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 7th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The company had revenue of $166.82 million during the quarter, compared to the consensus estimate of $162.26 million. Planet Fitness had a negative return on equity of 37.57% and a net margin of 16.80%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the business posted $0.28 EPS.

Several brokerages have recently commented on PLNT. ValuEngine downgraded Planet Fitness from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Zacks Investment Research downgraded Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 target price for the company. in a research note on Wednesday, November 6th. Imperial Capital raised their target price on Planet Fitness from $72.50 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday. Roth Capital reduced their target price on Planet Fitness from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $84.00 target price on shares of Planet Fitness in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $77.08.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Insight Wealth Strategies LLC lifted its position in Planet Fitness by 9.8% in the 3rd quarter. Insight Wealth Strategies LLC now owns 8,197 shares of the company’s stock valued at $474,000 after acquiring an additional 730 shares in the last quarter. Great Lakes Advisors LLC lifted its position in Planet Fitness by 3.0% in the 3rd quarter. Great Lakes Advisors LLC now owns 216,135 shares of the company’s stock valued at $12,508,000 after acquiring an additional 6,305 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Planet Fitness by 6.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,178,036 shares of the company’s stock valued at $68,172,000 after acquiring an additional 73,242 shares in the last quarter. Groesbeck Investment Management Corp NJ lifted its position in Planet Fitness by 2.8% in the 3rd quarter. Groesbeck Investment Management Corp NJ now owns 9,610 shares of the company’s stock valued at $556,000 after acquiring an additional 260 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Planet Fitness by 620.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 720 shares of the company’s stock valued at $42,000 after acquiring an additional 620 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of PLNT traded up $1.35 during trading hours on Monday, hitting $71.45. The stock had a trading volume of 837,860 shares, compared to its average volume of 1,697,129. The firm has a 50 day simple moving average of $61.31 and a 200-day simple moving average of $70.45. The firm has a market capitalization of $6.58 billion, a P/E ratio of 58.57, a price-to-earnings-growth ratio of 2.14 and a beta of 0.63. Planet Fitness has a 1-year low of $48.00 and a 1-year high of $81.90.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

Recommended Story: How is the LIBOR rate calculated?

Get a free copy of the Zacks research report on Planet Fitness (PLNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Planet Fitness (NYSE:PLNT)

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.