Planet Fitness Inc (PLNT) Expected to Announce Quarterly Sales of $131.57 Million

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.

PLNT has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Wednesday, October 11th. Jefferies Group reiterated a “buy” rating and issued a $29.00 price objective on shares of Planet Fitness in a research note on Thursday, October 19th. Bank of America increased their price objective on shares of Planet Fitness from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Imperial Capital increased their price objective on shares of Planet Fitness from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Finally, Cowen restated a “buy” rating and set a $30.00 target price on shares of Planet Fitness in a research note on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $34.00.

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.

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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.

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