Brokerages predict that Planet Fitness Inc (NYSE:PLNT) will report earnings of $0.16 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Planet Fitness’ earnings. The highest EPS estimate is $0.17 and the lowest is $0.16. Planet Fitness reported earnings of $0.15 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.7%. The business is scheduled to issue its next earnings report on Tuesday, May 9th.
According to Zacks, analysts expect that Planet Fitness will report full-year earnings of $0.75 per share for the current fiscal year, with EPS estimates ranging from $0.73 to $0.76. For the next year, analysts expect that the firm will post earnings of $0.90 per share, with EPS estimates ranging from $0.88 to $0.95. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Planet Fitness.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Wednesday, March 1st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $116.40 million for the quarter, compared to analyst estimates of $114.59 million. Planet Fitness had a return on equity of 485.81% and a net margin of 3.65%. Planet Fitness’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.
A number of research firms have recently commented on PLNT. Cowen and Company reaffirmed a “buy” rating and issued a $23.00 price target (down from $25.00) on shares of Planet Fitness in a report on Thursday, March 2nd. Macquarie assumed coverage on Planet Fitness in a research report on Thursday, January 5th. They issued an “outperform” rating and a $28.00 price objective on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of Planet Fitness in a research report on Monday, April 3rd. Imperial Capital lowered their price objective on Planet Fitness from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, February 2nd. Finally, Wedbush downgraded Planet Fitness from an “outperform” rating to a “neutral” rating in a research report on Friday, March 24th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.00.
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In related news, CEO Christopher Rondeau sold 20,000 shares of the company’s stock in a transaction on Thursday, January 12th. The shares were sold at an average price of $20.38, for a total value of $407,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marc Grondahl sold 99,949 shares of the company’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $20.63, for a total transaction of $2,061,947.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 396,531 shares of company stock valued at $8,064,123. 32.39% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Loomis Sayles & Co. L P purchased a new position in shares of Planet Fitness during the fourth quarter valued at $25,550,000. Bank of New York Mellon Corp increased its position in shares of Planet Fitness by 680.4% in the third quarter. Bank of New York Mellon Corp now owns 913,457 shares of the company’s stock valued at $18,333,000 after buying an additional 796,400 shares in the last quarter. Columbus Circle Investors purchased a new position in shares of Planet Fitness during the third quarter valued at $7,784,000. Summit Partners Public Asset Management LLC increased its position in shares of Planet Fitness by 290.5% in the third quarter. Summit Partners Public Asset Management LLC now owns 390,455 shares of the company’s stock valued at $7,836,000 after buying an additional 290,455 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Planet Fitness by 6.9% in the third quarter. Capital World Investors now owns 3,558,286 shares of the company’s stock valued at $71,415,000 after buying an additional 229,000 shares in the last quarter. 90.78% of the stock is owned by institutional investors.
Shares of Planet Fitness (NYSE:PLNT) traded down 2.81% during midday trading on Friday, reaching $18.67. The company had a trading volume of 1,162,375 shares. Planet Fitness has a one year low of $14.86 and a one year high of $25.10. The company has a 50 day moving average of $20.19 and a 200 day moving average of $20.59. The company has a market capitalization of $1.16 billion, a PE ratio of 37.57 and a beta of 0.91.
About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three 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, the Dominican Republic and Canada.
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