Equities analysts expect that Planet Fitness Inc (NYSE:PLNT) will announce sales of $126.69 million for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Planet Fitness’ earnings, with the lowest sales estimate coming in at $122.13 million and the highest estimate coming in at $132.70 million. Planet Fitness posted sales of $97.50 million during the same quarter last year, which would indicate a positive year over year growth rate of 29.9%. The business is scheduled to issue its next earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Planet Fitness will report full-year sales of $545.75 million for the current fiscal year, with estimates ranging from $540.15 million to $559.40 million. For the next financial year, analysts forecast that the firm will post sales of $607.18 million per share, with estimates ranging from $593.30 million to $631.10 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Planet Fitness.
Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, August 9th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $140.55 million for the quarter, compared to analysts’ expectations of $130.99 million. Planet Fitness had a net margin of 11.68% and a negative return on equity of 82.89%. The company’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS.
PLNT has been the topic of a number of recent research reports. TheStreet raised shares of Planet Fitness from a “c-” rating to a “b” rating in a report on Monday, August 6th. Roth Capital set a $55.00 target price on shares of Planet Fitness and gave the company a “buy” rating in a report on Saturday, August 11th. ValuEngine raised shares of Planet Fitness from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 14th. Cowen lifted their target price on shares of Planet Fitness from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, June 11th. Finally, JPMorgan Chase & Co. cut shares of Planet Fitness from an “overweight” rating to a “neutral” rating and set a $22.00 target price on the stock. in a report on Monday, August 13th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Planet Fitness currently has a consensus rating of “Buy” and a consensus price target of $49.58.
Shares of Planet Fitness stock opened at $50.86 on Friday. The firm has a market capitalization of $4.95 billion, a PE ratio of 60.55, a price-to-earnings-growth ratio of 2.30 and a beta of 0.55. Planet Fitness has a 12 month low of $25.48 and a 12 month high of $53.41. The company has a debt-to-equity ratio of -7.61, a quick ratio of 2.05 and a current ratio of 2.08.
In related news, CFO Dorvin D. Lively sold 105,127 shares of Planet Fitness stock in a transaction on Friday, August 31st. The shares were sold at an average price of $51.23, for a total value of $5,385,656.21. Following the transaction, the chief financial officer now directly owns 41,874 shares in the company, valued at approximately $2,145,205.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dorvin D. Lively sold 31,893 shares of Planet Fitness stock in a transaction on Friday, September 7th. The shares were sold at an average price of $50.82, for a total transaction of $1,620,802.26. Following the completion of the transaction, the chief financial officer now owns 31,893 shares in the company, valued at $1,620,802.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 565,049 shares of company stock worth $28,022,162. 19.87% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of PLNT. ETRADE Capital Management LLC purchased a new position in Planet Fitness in the 1st quarter valued at $214,000. Verition Fund Management LLC purchased a new stake in shares of Planet Fitness during the 2nd quarter worth $223,000. NumerixS Investment Technologies Inc boosted its position in shares of Planet Fitness by 47.4% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 5,306 shares of the company’s stock worth $230,000 after purchasing an additional 1,706 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Planet Fitness during the 1st quarter worth $253,000. Finally, Global X Management Co LLC boosted its position in shares of Planet Fitness by 78.2% during the 2nd quarter. Global X Management Co LLC now owns 5,769 shares of the company’s stock worth $253,000 after purchasing an additional 2,532 shares in the last quarter. Hedge funds and other institutional investors own 92.40% of the company’s stock.
About Planet Fitness
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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