Planet Fitness, Inc. (NYSE:PLNT – Free Report) – Analysts at William Blair increased their Q3 2023 EPS estimates for shares of Planet Fitness in a research report issued on Thursday, August 3rd. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of $0.57 for the quarter, up from their previous forecast of $0.55. The consensus estimate for Planet Fitness’ current full-year earnings is $2.18 per share. William Blair also issued estimates for Planet Fitness’ Q4 2023 earnings at $0.57 EPS, FY2023 earnings at $2.20 EPS, FY2024 earnings at $2.66 EPS and FY2025 earnings at $3.21 EPS.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.11. Planet Fitness had a net margin of 12.03% and a negative return on equity of 87.12%. The company had revenue of $286.50 million for the quarter, compared to analysts’ expectations of $251.99 million. During the same period in the prior year, the business earned $0.38 EPS. The firm’s quarterly revenue was up 27.7% on a year-over-year basis.
A number of other research firms have also recently weighed in on PLNT. StockNews.com began coverage on shares of Planet Fitness in a report on Thursday, May 18th. They issued a “hold” rating on the stock. BNP Paribas cut shares of Planet Fitness from a “neutral” rating to an “underperform” rating and set a $57.00 price target on the stock. in a report on Friday, June 23rd. Piper Sandler lowered their price target on shares of Planet Fitness from $96.00 to $88.00 in a report on Thursday, June 22nd. Bank of America lowered their price target on shares of Planet Fitness from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Finally, VNET Group reaffirmed a “maintains” rating on shares of Planet Fitness in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $82.00.
Planet Fitness Stock Performance
NYSE:PLNT opened at $61.51 on Monday. Planet Fitness has a fifty-two week low of $54.15 and a fifty-two week high of $85.90. The stock has a market capitalization of $5.49 billion, a P/E ratio of 41.84, a P/E/G ratio of 0.91 and a beta of 1.29. The company’s 50-day simple moving average is $67.19 and its 200-day simple moving average is $73.71.
Hedge Funds Weigh In On Planet Fitness
Institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. raised its position in Planet Fitness by 93.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock worth $35,000 after buying an additional 220 shares during the last quarter. Quarry LP purchased a new position in shares of Planet Fitness during the 1st quarter valued at approximately $38,000. International Assets Investment Management LLC purchased a new position in shares of Planet Fitness during the 1st quarter valued at approximately $40,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Planet Fitness by 144.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 536 shares of the company’s stock valued at $42,000 after purchasing an additional 317 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Planet Fitness by 52.9% during the 2nd quarter. CWM LLC now owns 697 shares of the company’s stock valued at $47,000 after purchasing an additional 241 shares in the last quarter. 95.82% of the stock is owned by hedge funds and other institutional investors.
Planet Fitness Company Profile
(Get Free Report)
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company 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, Panama, Mexico, and Australia.
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