Planet Fitness, Inc. (PLNT) Expected to Announce Earnings of $0.19 Per Share
Wall Street brokerages forecast that Planet Fitness, Inc. (NYSE:PLNT) will post earnings per share of $0.19 for the current quarter, according to Zacks. Seven analysts have made estimates for Planet Fitness’ earnings. The highest EPS estimate is $0.20 and the lowest is $0.18. Planet Fitness posted earnings per share of $0.17 in the same quarter last year, which suggests a positive year-over-year growth rate of 11.8%. The company is scheduled to announce its next quarterly earnings results on Thursday, August 10th.
On average, analysts expect that Planet Fitness will report full-year earnings of $0.77 per share for the current fiscal year, with EPS estimates ranging from $0.75 to $0.79. For the next financial year, analysts expect that the firm will report earnings of $0.92 per share, with EPS estimates ranging from $0.85 to $0.96. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Planet Fitness.
Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, May 2nd. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The company had revenue of $91.10 million during the quarter, compared to analysts’ expectations of $91.33 million. Planet Fitness had a negative return on equity of 79.66% and a net margin of 6.99%.
PLNT has been the topic of several research analyst reports. Guggenheim reiterated a “buy” rating and issued a $24.00 price objective on shares of Planet Fitness in a report on Thursday, April 6th. BidaskClub cut Planet Fitness from a “hold” rating to a “sell” rating in a report on Sunday. Zacks Investment Research cut Planet Fitness from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of Planet Fitness in a report on Monday, April 3rd. Finally, Wedbush cut Planet Fitness from an “outperform” rating to a “neutral” rating in a report on Friday, March 24th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $24.82.
In related news, Director Charles Esserman sold 16,085,510 shares of Planet Fitness stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $20.28, for a total value of $326,214,142.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Rondeau sold 20,000 shares of Planet Fitness stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $18.69, for a total transaction of $373,800.00. The disclosure for this sale can be found here. Insiders sold a total of 16,165,510 shares of company stock valued at $327,770,743 in the last quarter. 19.87% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new position in Planet Fitness during the first quarter valued at approximately $136,000. FNY Partners Fund LP purchased a new position in shares of Planet Fitness during the first quarter worth approximately $154,000. Guggenheim Capital LLC purchased a new position in shares of Planet Fitness during the fourth quarter worth approximately $228,000. Princeton Alpha Management LP purchased a new position in shares of Planet Fitness during the first quarter worth approximately $224,000. Finally, Laurion Capital Management LP purchased a new position in shares of Planet Fitness during the first quarter worth approximately $231,000. Institutional investors and hedge funds own 94.54% of the company’s stock.
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Planet Fitness (NYSE:PLNT) opened at 22.73 on Wednesday. The stock has a market cap of $1.65 billion, a PE ratio of 42.25 and a beta of 0.93. Planet Fitness has a 52 week low of $18.32 and a 52 week high of $25.10. The firm’s 50-day moving average price is $21.94 and its 200-day moving average price is $20.74.
About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three 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, the Dominican Republic and Canada.
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