$168.24 Million in Sales Expected for Planet Fitness Inc (PLNT) This Quarter

Share on StockTwits

Wall Street analysts forecast that Planet Fitness Inc (NYSE:PLNT) will report sales of $168.24 million for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Planet Fitness’ earnings, with estimates ranging from $158.00 million to $174.90 million. Planet Fitness reported sales of $140.55 million during the same quarter last year, which indicates a positive year-over-year growth rate of 19.7%. The company is scheduled to report its next earnings report on Thursday, August 8th.

According to Zacks, analysts expect that Planet Fitness will report full-year sales of $661.84 million for the current year, with estimates ranging from $651.40 million to $682.19 million. For the next year, analysts expect that the company will post sales of $744.19 million, with estimates ranging from $709.60 million to $801.85 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Planet Fitness.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $148.82 million during the quarter, compared to analysts’ expectations of $153.41 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis.

A number of research analysts have issued reports on PLNT shares. Zacks Investment Research cut Planet Fitness from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Jefferies Financial Group raised Planet Fitness from a “hold” rating to a “buy” rating and boosted their target price for the company from $49.00 to $75.00 in a research note on Friday, February 22nd. They noted that the move was a valuation call. Wedbush upped their price objective on Planet Fitness from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 27th. DA Davidson upped their price objective on Planet Fitness to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Finally, Roth Capital upped their price objective on Planet Fitness from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $67.57.

NYSE:PLNT traded down $0.35 on Wednesday, reaching $76.15. The company’s stock had a trading volume of 878,022 shares, compared to its average volume of 1,429,261. Planet Fitness has a 1-year low of $38.32 and a 1-year high of $81.76. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 62.42, a PEG ratio of 2.40 and a beta of 0.76.

In related news, Director David P. Berg sold 6,291 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $61.73, for a total transaction of $388,343.43. Following the sale, the director now owns 6,615 shares in the company, valued at $408,343.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Rondeau sold 6,000 shares of the company’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $60.53, for a total value of $363,180.00. The disclosure for this sale can be found here. Insiders have sold 466,291 shares of company stock valued at $29,813,238 over the last ninety days. 14.52% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. bought a new stake in Planet Fitness during the first quarter worth about $32,000. Ffcm LLC bought a new stake in Planet Fitness in the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. raised its stake in Planet Fitness by 99.3% in the fourth quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock valued at $31,000 after buying an additional 284 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Planet Fitness in the first quarter valued at approximately $43,000. Finally, US Bancorp DE raised its stake in Planet Fitness by 28.7% in the first quarter. US Bancorp DE now owns 645 shares of the company’s stock valued at $44,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 96.21% 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.

Read More: How is Preferred Stock Different from Common Stock?

Get a free copy of the Zacks research report on Planet Fitness (PLNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Planet Fitness (NYSE:PLNT)

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.