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.
TRADEMARK VIOLATION NOTICE: “$93.41 Million in Sales Expected for Planet Fitness Inc (PLNT) This Quarter” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2017/10/27/93-41-million-in-sales-expected-for-planet-fitness-inc-plnt-this-quarter.html.
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.
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
Receive News & Ratings for Planet Fitness Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness Inc and related companies with MarketBeat.com's FREE daily email newsletter.