$93.41 Million in Sales Expected for Planet Fitness Inc (PLNT) This Quarter

Equities analysts expect Planet Fitness Inc (NYSE:PLNT) to report $93.41 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Planet Fitness’ earnings, with estimates ranging from $89.00 million to $101.35 million. Planet Fitness posted sales of $87.01 million during the same quarter last year, which suggests a positive year over year growth rate of 7.4%. The firm is scheduled to report its next quarterly earnings report on Wednesday, October 25th.

According to Zacks, analysts expect that Planet Fitness will report full-year sales of $93.41 million for the current fiscal year, with estimates ranging from $413.82 million to $421.00 million. For the next financial year, analysts expect that the business will post sales of $455.98 million per share, with estimates ranging from $449.00 million to $460.40 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Planet Fitness.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $107.31 million during the quarter, compared to analyst estimates of $101.99 million. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS.

Several analysts recently commented on the stock. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $29.00 price objective (up previously from $26.00) on shares of Planet Fitness in a research note on Thursday, August 10th. Roth Capital raised their price objective on shares of Planet Fitness from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, August 21st. BidaskClub cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $28.00 price objective (up previously from $23.00) on shares of Planet Fitness in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.00.

In other Planet Fitness news, CEO Christopher Rondeau sold 20,000 shares of Planet Fitness stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $26.43, for a total transaction of $528,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 19.87% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PLNT. Oppenheimer Asset Management Inc. acquired a new position in Planet Fitness during the first quarter worth about $136,000. D.A. Davidson & CO. acquired a new position in Planet Fitness during the second quarter worth about $145,000. FNY Partners Fund LP acquired a new position in Planet Fitness during the first quarter worth about $154,000. Ameritas Investment Partners Inc. raised its position in Planet Fitness by 234.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock worth $173,000 after acquiring an additional 5,189 shares during the last quarter. Finally, Fortaleza Asset Management Inc. raised its position in Planet Fitness by 57.9% during the second quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock worth $183,000 after acquiring an additional 2,870 shares during the last quarter. Institutional investors own 94.15% of the company’s stock.

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Planet Fitness (NYSE PLNT) opened at 26.03 on Wednesday. Planet Fitness has a 12 month low of $18.32 and a 12 month high of $27.22. The firm has a market cap of $2.23 billion, a P/E ratio of 44.88 and a beta of 0.86. The firm has a 50 day moving average of $26.38 and a 200-day moving average of $26.38.

Planet Fitness Company Profile

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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