Wall Street analysts forecast that Planet Fitness, Inc. (NYSE:PLNT – Get Rating) will announce earnings of $0.27 per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Planet Fitness’ earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.35. Planet Fitness reported earnings of $0.10 per share in the same quarter last year, which would suggest a positive year over year growth rate of 170%. The business is expected to issue its next earnings results on Thursday, May 5th.
According to Zacks, analysts expect that Planet Fitness will report full-year earnings of $1.52 per share for the current year, with EPS estimates ranging from $1.47 to $1.55. For the next financial year, analysts anticipate that the firm will post earnings of $2.14 per share, with EPS estimates ranging from $1.93 to $2.46. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Planet Fitness.
Planet Fitness (NYSE:PLNT – Get Rating) last posted its earnings results on Thursday, February 24th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $183.60 million during the quarter, compared to analysts’ expectations of $179.03 million. Planet Fitness had a negative return on equity of 10.63% and a net margin of 7.29%. The firm’s revenue was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share.
This guide will help you identify and execute an options trading strategy that fits your specific needs and risk profile.
Take your trading to the next level with the Options Strategy Guide.
A number of equities research analysts have weighed in on PLNT shares. TheStreet cut Planet Fitness from a “b-” rating to a “c” rating in a research note on Thursday, February 24th. DA Davidson boosted their price objective on Planet Fitness from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, January 12th. Cowen upgraded Planet Fitness to a “hold” rating and boosted their price objective for the company from $100.00 to $110.00 in a research note on Wednesday, January 12th. Evercore ISI started coverage on Planet Fitness in a research note on Monday, March 14th. They issued an “outperform” rating and a $130.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Planet Fitness from $88.00 to $90.00 in a research note on Friday, January 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $101.17.
Shares of NYSE PLNT opened at $86.43 on Monday. Planet Fitness has a twelve month low of $67.89 and a twelve month high of $99.60. The stock has a 50 day moving average of $86.73 and a two-hundred day moving average of $85.11. The stock has a market cap of $7.87 billion, a P/E ratio of 166.21, a P/E/G ratio of 2.84 and a beta of 1.21.
A number of hedge funds have recently made changes to their positions in PLNT. Moors & Cabot Inc. acquired a new position in Planet Fitness during the third quarter worth $26,000. Liberty Wealth Management LLC grew its holdings in Planet Fitness by 388.6% during the third quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock worth $29,000 after acquiring an additional 272 shares during the period. Pinnacle Holdings LLC acquired a new position in Planet Fitness during the third quarter worth $30,000. Lazard Asset Management LLC acquired a new stake in Planet Fitness in the fourth quarter valued at $33,000. Finally, Manchester Capital Management LLC acquired a new stake in Planet Fitness in the third quarter valued at $35,000. 98.33% of the stock is currently owned by hedge funds and other institutional investors.
About Planet Fitness (Get Rating)
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following 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, Canada, the Dominican Republic, Panama, Mexico, and Australia.
Featured Stories
Get a free copy of the Zacks research report on Planet Fitness (PLNT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Planet Fitness right now?
Before you consider Planet Fitness, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Planet Fitness wasn’t on the list.
While Planet Fitness currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here