Brokerages forecast that Planet Fitness Inc (NYSE:PLNT) will announce $0.24 earnings per share for the current fiscal quarter, Zacks 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 reported earnings per share of $0.19 in the same quarter last year, which would suggest a positive year over year growth rate of 26.3%. The company is scheduled to announce its next earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that Planet Fitness will report full year earnings of $1.13 per share for the current year, with EPS estimates ranging from $1.10 to $1.20. For the next year, analysts forecast that the company will report earnings of $1.37 per share, with EPS estimates ranging from $1.25 to $1.63. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Planet Fitness.
Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, August 9th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The firm 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%. Planet Fitness’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share.
PLNT has been the topic of a number of recent analyst reports. TheStreet upgraded Planet Fitness from a “c-” rating to a “b” rating in a research report on Monday, August 6th. Cowen reiterated a “buy” rating and set a $58.00 price target on shares of Planet Fitness in a research report on Sunday, August 12th. Piper Jaffray Companies reiterated a “buy” rating and set a $60.00 price target on shares of Planet Fitness in a research report on Sunday, August 12th. Roth Capital set a $55.00 price target on Planet Fitness and gave the stock a “buy” rating in a research report on Saturday, August 11th. Finally, Bank of America increased their price target on Planet Fitness from $45.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, July 12th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Planet Fitness currently has an average rating of “Buy” and a consensus price target of $50.31.
Planet Fitness stock opened at $47.95 on Tuesday. The stock has a market cap of $4.87 billion, a P/E ratio of 57.08, a P/E/G ratio of 2.27 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 current ratio of 2.08, a quick ratio of 2.05 and a debt-to-equity ratio of -7.61.
In other news, CFO Dorvin D. Lively sold 105,127 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $51.23, for a total value of $5,385,656.21. Following the transaction, the chief financial officer now owns 41,874 shares in the company, valued at $2,145,205.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Rondeau sold 1,792 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $50.60, for a total value of $90,675.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 635,972 shares of company stock worth $32,059,933. Company insiders own 19.87% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLNT. FMR LLC lifted its position in shares of Planet Fitness by 407.9% in the second quarter. FMR LLC now owns 2,527,143 shares of the company’s stock valued at $111,043,000 after acquiring an additional 2,029,530 shares in the last quarter. BlackRock Inc. lifted its position in shares of Planet Fitness by 10.7% in the second quarter. BlackRock Inc. now owns 6,027,451 shares of the company’s stock valued at $264,845,000 after acquiring an additional 581,619 shares in the last quarter. OppenheimerFunds Inc. purchased a new position in shares of Planet Fitness in the second quarter valued at approximately $15,098,000. Bank of America Corp DE lifted its position in shares of Planet Fitness by 49.5% in the second quarter. Bank of America Corp DE now owns 898,305 shares of the company’s stock valued at $39,471,000 after acquiring an additional 297,460 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Planet Fitness by 29.7% in the second quarter. Voya Investment Management LLC now owns 1,267,246 shares of the company’s stock valued at $55,683,000 after acquiring an additional 289,968 shares in the last quarter. Institutional investors and hedge funds own 92.31% of the company’s stock.
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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