Analysts predict that Planet Fitness Inc (NYSE:PLNT) will report $114.44 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Planet Fitness’ earnings, with the highest sales estimate coming in at $122.50 million and the lowest estimate coming in at $103.01 million. Planet Fitness posted sales of $91.10 million during the same quarter last year, which would indicate a positive year over year growth rate of 25.6%. The business is expected to issue its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Planet Fitness will report full year sales of $114.44 million for the current year, with estimates ranging from $515.30 million to $531.80 million. For the next fiscal year, analysts anticipate that the business will post sales of $578.01 million per share, with estimates ranging from $529.62 million to $604.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Planet Fitness.
Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, February 22nd. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. The company had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $131.11 million. Planet Fitness had a net margin of 7.71% and a negative return on equity of 52.97%. Planet Fitness’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS.
A number of brokerages have recently issued reports on PLNT. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Imperial Capital upped their target price on shares of Planet Fitness from $33.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Piper Jaffray reaffirmed a “buy” rating on shares of Planet Fitness in a report on Tuesday, February 27th. Guggenheim reaffirmed a “buy” rating on shares of Planet Fitness in a report on Friday, February 23rd. Finally, Roth Capital set a $41.00 price target on shares of Planet Fitness and gave the company a “buy” rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Planet Fitness has a consensus rating of “Buy” and a consensus price target of $36.38.
In related news, CEO Christopher Rondeau sold 120,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $34.47, for a total value of $4,136,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 16.38% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Bank of Montreal Can acquired a new position in shares of Planet Fitness during the 4th quarter worth approximately $104,000. SG Americas Securities LLC acquired a new position in shares of Planet Fitness during the 4th quarter worth approximately $114,000. Envestnet Asset Management Inc. grew its position in shares of Planet Fitness by 164.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock worth $131,000 after purchasing an additional 3,022 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Planet Fitness by 81.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,994 shares of the company’s stock worth $173,000 after purchasing an additional 2,244 shares in the last quarter. Finally, Strs Ohio grew its position in shares of Planet Fitness by 69.7% during the 4th quarter. Strs Ohio now owns 5,600 shares of the company’s stock worth $193,000 after purchasing an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.
Shares of PLNT stock opened at $38.61 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.56 and a debt-to-equity ratio of -5.09. The stock has a market capitalization of $3,779.84, a PE ratio of 45.96, a PEG ratio of 1.69 and a beta of 0.54. Planet Fitness has a 52-week low of $18.41 and a 52-week high of $40.04.
Planet Fitness declared that its Board of Directors has approved a share buyback plan on Thursday, February 22nd that authorizes the company to repurchase $80.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
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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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