Wall Street brokerages expect Planet Fitness Inc (NYSE:PLNT) to report sales of $131.57 million for the current quarter, according to Zacks. Eight analysts have made estimates for Planet Fitness’ earnings. The highest sales estimate is $133.79 million and the lowest is $127.60 million. Planet Fitness posted sales of $116.42 million during the same quarter last year, which would indicate a positive year over year growth rate of 13%. The company is expected to announce its next quarterly earnings results on Wednesday, March 7th.
On average, analysts expect that Planet Fitness will report full-year sales of $131.57 million for the current financial year, with estimates ranging from $424.00 million to $429.71 million. For the next financial year, analysts forecast that the company will report sales of $475.15 million per share, with estimates ranging from $461.00 million to $489.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Planet Fitness.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Planet Fitness had a net margin of 11.44% and a negative return on equity of 44.91%. The firm had revenue of $97.50 million for the quarter, compared to analysts’ expectations of $93.55 million. During the same quarter in the prior year, the business earned $0.16 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis.
In other Planet Fitness news, CFO Dorvin D. Lively sold 38,674 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $32.29, for a total transaction of $1,248,783.46. Following the completion of the sale, the chief financial officer now directly owns 38,674 shares of the company’s stock, valued at approximately $1,248,783.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher Rondeau sold 120,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $34.47, for a total transaction of $4,136,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,212,787 shares of company stock worth $37,983,342. 19.87% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can purchased a new stake in Planet Fitness during the 4th quarter valued at approximately $104,000. SG Americas Securities LLC purchased a new stake in Planet Fitness during the 4th quarter valued at approximately $114,000. Envestnet Asset Management Inc. grew its holdings in Planet Fitness by 164.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock valued at $131,000 after buying an additional 3,022 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Planet Fitness by 81.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,994 shares of the company’s stock valued at $173,000 after buying an additional 2,244 shares in the last quarter. Finally, Strs Ohio grew its holdings in Planet Fitness by 69.7% during the 4th quarter. Strs Ohio now owns 5,600 shares of the company’s stock valued at $193,000 after buying an additional 2,300 shares in the last quarter.
Planet Fitness (PLNT) opened at $33.91 on Friday. Planet Fitness has a one year low of $18.32 and a one year high of $35.03. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of -5.00. The firm has a market cap of $3,341.39, a P/E ratio of 42.46, a PEG ratio of 2.00 and a beta of 0.79.
TRADEMARK VIOLATION NOTICE: This piece of content was published by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/03/planet-fitness-inc-plnt-expected-to-announce-quarterly-sales-of-131-57-million-2.html.
Planet Fitness Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.