Equities research analysts expect that Planet Fitness, Inc. (NYSE:PLNT) will announce sales of $173.94 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Planet Fitness’ earnings, with the lowest sales estimate coming in at $170.10 million and the highest estimate coming in at $177.50 million. Planet Fitness posted sales of $133.77 million during the same quarter last year, which suggests a positive year-over-year growth rate of 30%. The company is expected to announce its next quarterly earnings report on Thursday, February 17th.
According to Zacks, analysts expect that Planet Fitness will report full year sales of $577.18 million for the current financial year, with estimates ranging from $573.50 million to $580.90 million. For the next year, analysts anticipate that the business will post sales of $770.67 million, with estimates ranging from $728.57 million to $812.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Planet Fitness.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.08. The business had revenue of $154.30 million during the quarter, compared to analysts’ expectations of $134.79 million. Planet Fitness had a negative return on equity of 9.30% and a net margin of 8.51%. The firm’s revenue for the quarter was up 46.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 earnings per share.
PLNT has been the subject of several recent analyst reports. Robert W. Baird upped their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 5th. They noted that the move was a valuation call. Roth Capital increased their price objective on Planet Fitness from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, November 8th. Morgan Stanley increased their price objective on Planet Fitness from $93.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, November 5th. JPMorgan Chase & Co. increased their price objective on Planet Fitness from $84.00 to $88.00 and gave the company a “neutral” rating in a report on Friday, December 17th. Finally, BMO Capital Markets increased their price objective on Planet Fitness from $80.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, November 15th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $98.33.
In other news, CEO Christopher Rondeau sold 150,000 shares of the stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $96.07, for a total transaction of $14,410,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.41% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Liberty Wealth Management LLC lifted its position in Planet Fitness by 388.6% in the 3rd quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock valued at $29,000 after acquiring an additional 272 shares in the last quarter. Pinnacle Holdings LLC bought a new position in Planet Fitness in the 3rd quarter valued at about $30,000. Manchester Capital Management LLC bought a new position in Planet Fitness in the 3rd quarter valued at about $35,000. Berman Capital Advisors LLC lifted its position in Planet Fitness by 291.9% in the 3rd quarter. Berman Capital Advisors LLC now owns 482 shares of the company’s stock valued at $37,000 after acquiring an additional 359 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new position in Planet Fitness in the 2nd quarter valued at about $36,000. 97.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of PLNT stock opened at $90.58 on Friday. The stock has a market cap of $7.84 billion, a P/E ratio of 161.75, a price-to-earnings-growth ratio of 5.74 and a beta of 1.20. The stock has a 50 day simple moving average of $87.13 and a 200 day simple moving average of $80.27. Planet Fitness has a 1 year low of $67.89 and a 1 year high of $99.60.
Planet Fitness Company Profile
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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