Brokerages expect Planet Fitness, Inc. (NYSE:PLNT – Get Rating) to announce earnings of $0.27 per share for the current quarter, according to Zacks. Eight analysts have provided 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 suggests a positive year-over-year growth rate of 170%. The business is expected to report its next quarterly earnings results on Monday, January 1st.
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 fiscal year, analysts expect that the business will post earnings of $2.14 per share, with EPS estimates ranging from $1.93 to $2.46. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Planet Fitness.
Planet Fitness (NYSE:PLNT – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported $0.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Planet Fitness had a net margin of 7.29% and a negative return on equity of 10.63%. The business had revenue of $183.60 million during the quarter, compared to analyst estimates of $179.03 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was up 37.2% on a year-over-year basis.
Several research firms have recently issued reports on PLNT. JPMorgan Chase & Co. upped their price objective on shares of Planet Fitness from $88.00 to $90.00 in a report on Friday, January 14th. Morgan Stanley upped their price objective on shares of Planet Fitness from $101.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, January 12th. Cowen upgraded shares of Planet Fitness to a “hold” rating and upped their price objective for the company from $100.00 to $110.00 in a report on Wednesday, January 12th. StockNews.com initiated coverage on shares of Planet Fitness in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research downgraded shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 price target on the stock. in a report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Planet Fitness presently has an average rating of “Buy” and a consensus price target of $101.17.
Hedge funds and other institutional investors have recently modified their holdings of the company. Soroban Capital Partners LP lifted its position in shares of Planet Fitness by 938.3% during the 3rd quarter. Soroban Capital Partners LP now owns 3,196,044 shares of the company’s stock valued at $251,049,000 after buying an additional 2,888,217 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Planet Fitness by 37.0% during the 4th quarter. Alliancebernstein L.P. now owns 2,771,855 shares of the company’s stock valued at $251,075,000 after buying an additional 748,189 shares in the last quarter. Morgan Stanley lifted its position in shares of Planet Fitness by 2.7% during the 2nd quarter. Morgan Stanley now owns 2,301,633 shares of the company’s stock valued at $173,197,000 after buying an additional 60,746 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in Planet Fitness by 79.2% in the 4th quarter. Eagle Asset Management Inc. now owns 1,914,220 shares of the company’s stock valued at $174,825,000 after purchasing an additional 846,128 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its holdings in Planet Fitness by 225.3% in the 4th quarter. Artemis Investment Management LLP now owns 1,599,934 shares of the company’s stock valued at $144,765,000 after purchasing an additional 1,108,100 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of PLNT traded down $0.02 during mid-day trading on Friday, hitting $81.16. 443,033 shares of the company traded hands, compared to its average volume of 873,611. Planet Fitness has a 1-year low of $67.89 and a 1-year high of $99.60. The company has a market capitalization of $7.39 billion, a PE ratio of 156.08, a price-to-earnings-growth ratio of 2.67 and a beta of 1.19. The business has a 50 day moving average of $86.24 and a 200 day moving average of $85.77.
Planet Fitness Company Profile (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.
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