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.
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