Equities analysts expect Planet Fitness Inc (NYSE:PLNT) to report earnings per share of $0.24 for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Planet Fitness’ earnings. The highest EPS estimate is $0.29 and the lowest is $0.20. Planet Fitness posted earnings of $0.19 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.3%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 6th.
On average, analysts expect that Planet Fitness will report full-year earnings of $1.13 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.20. For the next year, analysts anticipate that the business will report earnings of $1.37 per share, with EPS estimates ranging from $1.25 to $1.63. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Planet Fitness.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $140.55 million for the quarter, compared to analyst estimates of $130.99 million. Planet Fitness had a negative return on equity of 82.89% and a net margin of 11.68%. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share.
A number of analysts have recently commented on PLNT shares. TheStreet upgraded Planet Fitness from a “c-” rating to a “b” rating in a report on Monday, August 6th. Roth Capital set a $55.00 price target on Planet Fitness and gave the company a “buy” rating in a report on Saturday, August 11th. ValuEngine upgraded Planet Fitness from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 14th. Cowen boosted their price target on Planet Fitness from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, June 11th. Finally, Imperial Capital boosted their price target on Planet Fitness from $40.00 to $45.00 and gave the company an “inline” rating in a report on Friday, August 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.15.
Shares of Planet Fitness stock traded down $1.49 during trading on Friday, reaching $49.49. The stock had a trading volume of 2,552,618 shares, compared to its average volume of 1,078,155. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 58.92, a price-to-earnings-growth ratio of 2.48 and a beta of 0.54. Planet Fitness has a 52 week low of $25.55 and a 52 week high of $55.35. The company has a debt-to-equity ratio of -7.61, a current ratio of 2.08 and a quick ratio of 2.05.
In related news, CEO Christopher Rondeau sold 80,000 shares of Planet Fitness stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $50.81, for a total value of $4,064,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Dorvin D. Lively sold 31,893 shares of Planet Fitness stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $50.82, for a total value of $1,620,802.26. Following the completion of the sale, the chief financial officer now directly owns 31,893 shares in the company, valued at approximately $1,620,802.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 658,272 shares of company stock worth $33,107,956. 16.38% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd increased its position in Planet Fitness by 210.9% during the second quarter. Dynamic Technology Lab Private Ltd now owns 20,799 shares of the company’s stock worth $914,000 after buying an additional 14,108 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in Planet Fitness during the second quarter worth approximately $15,098,000. Swiss National Bank increased its position in Planet Fitness by 1.7% during the second quarter. Swiss National Bank now owns 151,785 shares of the company’s stock worth $6,669,000 after buying an additional 2,600 shares during the last quarter. Raymond James & Associates increased its position in Planet Fitness by 7.8% during the second quarter. Raymond James & Associates now owns 73,865 shares of the company’s stock worth $3,246,000 after buying an additional 5,351 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Planet Fitness by 20.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 13,090 shares of the company’s stock worth $575,000 after buying an additional 2,200 shares during the last quarter. 92.40% of the stock is currently owned by institutional investors and hedge funds.
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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