Planet Fitness Inc (NYSE:PLNT) – Equities researchers at Jefferies Financial Group cut their Q2 2019 EPS estimates for shares of Planet Fitness in a research note issued to investors on Friday, May 3rd, according to Zacks Investment Research. Jefferies Financial Group analyst R. Konik now forecasts that the company will post earnings of $0.37 per share for the quarter, down from their prior forecast of $0.39. Jefferies Financial Group currently has a “Buy” rating and a $85.00 price target on the stock. Jefferies Financial Group also issued estimates for Planet Fitness’ Q3 2019 earnings at $0.37 EPS and FY2020 earnings at $1.92 EPS.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Planet Fitness had a negative return on equity of 53.73% and a net margin of 15.91%. The business had revenue of $148.82 million for the quarter, compared to analysts’ expectations of $153.41 million. During the same quarter last year, the firm earned $0.27 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis.
Shares of PLNT stock traded up $1.00 during mid-day trading on Monday, hitting $75.56. 571,241 shares of the company’s stock were exchanged, compared to its average volume of 1,547,013. Planet Fitness has a fifty-two week low of $38.52 and a fifty-two week high of $81.76. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 61.93, a price-to-earnings-growth ratio of 2.26 and a beta of 0.76.
In other Planet Fitness news, CEO Christopher Rondeau sold 58,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.60, for a total value of $3,545,100.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David P. Berg sold 6,291 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $61.73, for a total value of $388,343.43. Following the completion of the transaction, the director now directly owns 6,615 shares in the company, valued at $408,343.95. The disclosure for this sale can be found here. Insiders sold 444,791 shares of company stock worth $28,511,843 over the last three months. 14.52% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. acquired a new stake in shares of Planet Fitness during the first quarter valued at about $32,000. Ffcm LLC acquired a new stake in shares of Planet Fitness during the fourth quarter valued at about $26,000. Meeder Asset Management Inc. grew its stake 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 valued at $31,000 after acquiring an additional 284 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Planet Fitness during the first quarter valued at about $43,000. Finally, US Bancorp DE grew its stake in shares of Planet Fitness by 28.7% during the first quarter. US Bancorp DE now owns 645 shares of the company’s stock valued at $44,000 after acquiring an additional 144 shares in the last quarter. Institutional investors own 94.00% of the company’s stock.
Planet Fitness Company Profile
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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