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.
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