Planet Fitness (NYSE:PLNT) – Equities researchers at DA Davidson issued their Q2 2018 earnings per share estimates for shares of Planet Fitness in a report issued on Wednesday, May 9th. DA Davidson analyst M. Kawamoto expects that the company will earn $0.31 per share for the quarter. DA Davidson has a “Buy” rating on the stock. DA Davidson also issued estimates for Planet Fitness’ Q3 2018 earnings at $0.28 EPS, Q4 2018 earnings at $0.32 EPS, FY2018 earnings at $1.17 EPS and FY2019 earnings at $1.40 EPS.
Several other research firms also recently commented on PLNT. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Wednesday, April 18th. ValuEngine upgraded Planet Fitness from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Roth Capital set a $41.00 price objective on Planet Fitness and gave the company a “buy” rating in a report on Thursday, March 1st. Piper Jaffray restated a “buy” rating on shares of Planet Fitness in a report on Tuesday, February 27th. Finally, Jefferies Group reiterated a “hold” rating and set a $35.00 price target on shares of Planet Fitness in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $39.88.
Planet Fitness opened at $39.26 on Monday, according to MarketBeat. The company has a market cap of $3.98 billion, a PE ratio of 46.74, a PEG ratio of 1.75 and a beta of 0.53. Planet Fitness has a 52 week low of $39.17 and a 52 week high of $40.50. The company has a quick ratio of 1.70, a current ratio of 1.74 and a debt-to-equity ratio of -5.68.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, May 8th. The company reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The firm had revenue of $121.30 million during the quarter, compared to the consensus estimate of $115.75 million. Planet Fitness had a negative return on equity of 64.81% and a net margin of 9.60%. The company’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share.
Planet Fitness declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 22nd that allows the company to repurchase $80.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of institutional investors have recently made changes to their positions in PLNT. California Public Employees Retirement System grew its holdings in Planet Fitness by 10.5% during the third quarter. California Public Employees Retirement System now owns 23,200 shares of the company’s stock worth $626,000 after buying an additional 2,200 shares in the last quarter. KAMES CAPITAL plc bought a new position in Planet Fitness in the 4th quarter valued at $1,339,000. Bank of Montreal Can bought a new position in Planet Fitness in the 4th quarter valued at $104,000. Schwab Charles Investment Management Inc. grew its stake in Planet Fitness by 2.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 407,162 shares of the company’s stock valued at $14,101,000 after purchasing an additional 8,608 shares during the period. Finally, Strs Ohio grew its stake in Planet Fitness by 69.7% in the 4th quarter. Strs Ohio now owns 5,600 shares of the company’s stock valued at $193,000 after purchasing an additional 2,300 shares during the period. Institutional investors and hedge funds own 98.47% of the company’s stock.
About Planet Fitness
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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