Wall Street analysts expect Planet Fitness Inc (NYSE:PLNT) to announce earnings per share (EPS) of $0.32 for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Planet Fitness’ earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.35. Planet Fitness reported earnings per share of $0.24 during the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The business is expected to issue its next quarterly earnings results on Thursday, February 28th.
According to Zacks, analysts expect that Planet Fitness will report full-year earnings of $1.20 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.24. For the next fiscal year, analysts forecast that the firm will report earnings of $1.42 per share, with EPS estimates ranging from $1.29 to $1.54. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Planet Fitness.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $136.66 million for the quarter, compared to the consensus estimate of $126.10 million. Planet Fitness had a net margin of 11.22% and a negative return on equity of 95.97%. The firm’s revenue was up 40.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 earnings per share.
A number of research firms recently issued reports on PLNT. ValuEngine raised shares of Planet Fitness from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 14th. TheStreet upgraded shares of Planet Fitness from a “c-” rating to a “b” rating in a research note on Monday, August 6th. Piper Jaffray Companies restated a “buy” rating and set a $60.00 target price on shares of Planet Fitness in a research note on Sunday, August 12th. Roth Capital set a $55.00 target price on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Saturday, August 11th. Finally, Wedbush raised their target price on shares of Planet Fitness from $35.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $52.64.
PLNT opened at $55.22 on Monday. The company has a market capitalization of $5.39 billion, a P/E ratio of 65.74, a price-to-earnings-growth ratio of 2.35 and a beta of 0.75. Planet Fitness has a 12-month low of $28.98 and a 12-month high of $57.66.
In other news, CFO Dorvin D. Lively sold 31,893 shares of Planet Fitness stock in a transaction that occurred 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 sale, the chief financial officer now owns 31,893 shares in the company, valued at $1,620,802.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher Rondeau sold 80,000 shares of Planet Fitness stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $50.81, for a total transaction of $4,064,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,093 shares of company stock worth $13,679,826. 19.87% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in PLNT. Mckinley Capital Management LLC Delaware bought a new stake in shares of Planet Fitness during the third quarter valued at approximately $136,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Planet Fitness during the third quarter valued at approximately $156,000. Sawtooth Solutions LLC bought a new stake in shares of Planet Fitness during the third quarter valued at approximately $218,000. Verition Fund Management LLC bought a new stake in shares of Planet Fitness during the second quarter valued at approximately $223,000. Finally, NumerixS Investment Technologies Inc raised its position in shares of Planet Fitness by 47.4% during the second quarter. NumerixS Investment Technologies Inc now owns 5,306 shares of the company’s stock valued at $230,000 after buying an additional 1,706 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.
Planet Fitness Company Profile
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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