Planet Fitness Inc (PLNT) Expected to Post Earnings of $0.41 Per Share

Equities research analysts expect Planet Fitness Inc (NYSE:PLNT) to post earnings of $0.41 per share for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Planet Fitness’ earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.37. Planet Fitness reported earnings per share of $0.34 in the same quarter last year, which suggests a positive year over year growth rate of 20.6%. The company is scheduled to report its next earnings results on Thursday, August 8th.

According to Zacks, analysts expect that Planet Fitness will report full-year earnings of $1.55 per share for the current fiscal year, with EPS estimates ranging from $1.53 to $1.58. For the next year, analysts anticipate that the company will report earnings of $1.90 per share, with EPS estimates ranging from $1.68 to $2.04. Zacks’ EPS averages are an average based on a survey of research analysts that follow Planet Fitness.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $148.82 million for the quarter, compared to the consensus estimate of $153.41 million. Planet Fitness had a net margin of 15.91% and a negative return on equity of 53.73%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS.

Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Robert W. Baird reissued an “outperform” rating and issued a $80.00 target price (up from $75.00) on shares of Planet Fitness in a research note on Monday, April 29th. ValuEngine cut shares of Planet Fitness from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Piper Jaffray Companies lifted their price objective on shares of Planet Fitness from $70.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. They noted that the move was a valuation call. Finally, Wedbush lifted their price objective on shares of Planet Fitness from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 27th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Planet Fitness presently has an average rating of “Buy” and a consensus price target of $67.57.

Shares of PLNT traded up $1.82 during mid-day trading on Monday, hitting $80.58. 18,300 shares of the company’s stock were exchanged, compared to its average volume of 1,427,844. The stock has a market capitalization of $7.39 billion, a P/E ratio of 65.98, a P/E/G ratio of 2.26 and a beta of 0.76. Planet Fitness has a 52 week low of $38.32 and a 52 week high of $79.42.

In other Planet Fitness news, CEO Christopher Rondeau sold 200,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $65.86, for a total transaction of $13,172,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dorvin D. Lively sold 100,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $63.52, for a total value of $6,352,000.00. Following the transaction, the chief financial officer now directly owns 98,883 shares of the company’s stock, valued at approximately $6,281,048.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 466,291 shares of company stock valued at $29,813,238. 14.52% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Ffcm LLC bought a new stake in shares of Planet Fitness during the fourth quarter worth about $26,000. Meeder Asset Management Inc. grew its holdings in shares of Planet Fitness by 99.3% during the fourth quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock worth $31,000 after purchasing an additional 284 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Planet Fitness during the first quarter worth about $32,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Planet Fitness during the first quarter worth about $43,000. Finally, US Bancorp DE grew its holdings in shares of Planet Fitness by 28.7% during the first quarter. US Bancorp DE now owns 645 shares of the company’s stock worth $44,000 after purchasing an additional 144 shares during the last quarter. 96.21% of the stock is owned by hedge funds and other institutional investors.

About Planet Fitness

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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