Planet Fitness Inc (PLNT) Expected to Post Earnings of $0.31 Per Share

Analysts expect Planet Fitness Inc (NYSE:PLNT) to report earnings of $0.31 per share for the current quarter, according to Zacks. Nine analysts have issued estimates for Planet Fitness’ earnings, with estimates ranging from $0.25 to $0.35. Planet Fitness posted earnings per share of $0.24 in the same quarter last year, which suggests a positive year over year growth rate of 29.2%. The business is scheduled to issue its next earnings results on Thursday, February 28th.

According to Zacks, analysts expect that Planet Fitness will report full year earnings of $1.19 per share for the current year, with EPS estimates ranging from $1.13 to $1.24. For the next year, analysts expect that the business will post earnings of $1.40 per share, with EPS estimates ranging from $1.25 to $1.54. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Planet Fitness.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, November 6th. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. Planet Fitness had a negative return on equity of 94.59% and a net margin of 11.22%. The business had revenue of $136.66 million during the quarter, compared to analyst estimates of $126.10 million. During the same quarter last year, the company posted $0.19 EPS. Planet Fitness’s revenue for the quarter was up 40.2% on a year-over-year basis.

Several equities research analysts recently issued reports on PLNT shares. Wedbush increased their price objective on Planet Fitness from $35.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. TheStreet raised Planet Fitness from a “c-” rating to a “b” rating in a research note on Monday, August 6th. DA Davidson increased their price objective on Planet Fitness to $56.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. Guggenheim increased their price objective on Planet Fitness from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, September 24th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $60.00 price objective on shares of Planet Fitness in a research note on Sunday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Planet Fitness currently has an average rating of “Buy” and an average price target of $51.54.

NYSE:PLNT opened at $54.99 on Friday. Planet Fitness has a 1-year low of $28.98 and a 1-year high of $57.66. The firm has a market capitalization of $4.67 billion, a P/E ratio of 65.46, a P/E/G ratio of 2.17 and a beta of 0.75.

In related news, CFO Dorvin D. Lively sold 105,127 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was 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 of the company’s stock, valued at approximately $2,145,205.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher Rondeau sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $50.20, for a total value of $2,008,000.00. The disclosure for this sale can be found here. Insiders sold a total of 500,226 shares of company stock worth $25,288,012 over the last three months. 19.87% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of PLNT. FMR LLC raised its stake in shares of Planet Fitness by 407.9% in the 2nd quarter. FMR LLC now owns 2,527,143 shares of the company’s stock valued at $111,043,000 after acquiring an additional 2,029,530 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Planet Fitness by 587.6% in the 3rd quarter. American Century Companies Inc. now owns 1,942,277 shares of the company’s stock valued at $104,941,000 after acquiring an additional 1,659,806 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Planet Fitness in the 3rd quarter valued at approximately $41,917,000. BlackRock Inc. grew its holdings in Planet Fitness by 10.7% in the 2nd quarter. BlackRock Inc. now owns 6,027,451 shares of the company’s stock valued at $264,845,000 after buying an additional 581,619 shares during the last quarter. Finally, Artemis Investment Management LLP grew its holdings in Planet Fitness by 34.7% in the 3rd quarter. Artemis Investment Management LLP now owns 1,632,687 shares of the company’s stock valued at $88,190,000 after buying an additional 420,233 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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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