Planet Fitness (NYSE:PLNT) Issues FY19 Earnings Guidance

Planet Fitness (NYSE:PLNT) issued an update on its FY19 earnings guidance on Thursday morning. The company provided EPS guidance of ~$1.56 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.57. The company issued revenue guidance of $681.75, compared to the consensus revenue estimate of $683.65 million.

Shares of Planet Fitness stock traded up $1.17 during trading on Thursday, hitting $62.71. The stock had a trading volume of 2,339,770 shares, compared to its average volume of 1,409,519. The firm’s fifty day simple moving average is $60.07 and its 200-day simple moving average is $70.61. The stock has a market cap of $5.66 billion, a PE ratio of 51.40, a PEG ratio of 1.72 and a beta of 0.63. Planet Fitness has a 12 month low of $48.00 and a 12 month high of $81.90.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The firm had revenue of $181.66 million during the quarter, compared to analyst estimates of $167.91 million. Planet Fitness had a net margin of 16.29% and a negative return on equity of 46.45%. The business’s revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. Analysts forecast that Planet Fitness will post 1.57 earnings per share for the current year.

PLNT has been the subject of several analyst reports. Zacks Investment Research lowered shares of Planet Fitness from a hold rating to a strong sell rating and set a $63.00 target price for the company. in a report on Wednesday. Roth Capital raised their price target on shares of Planet Fitness from $80.00 to $86.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Berenberg Bank downgraded shares of Planet Fitness from a buy rating to a hold rating and reduced their price target for the stock from $80.00 to $69.00 in a research note on Tuesday, September 3rd. Imperial Capital raised shares of Planet Fitness from an in-line rating to an outperform rating and set a $72.50 price target on the stock in a research note on Monday, October 14th. Finally, ValuEngine downgraded shares of Planet Fitness from a hold rating to a sell rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $77.35.

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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Earnings History and Estimates for Planet Fitness (NYSE:PLNT)

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