Equities Analysts Set Expectations for Planet Fitness’ Q2 2018 Earnings (PLNT)

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.

Earnings History and Estimates for Planet Fitness (NYSE:PLNT)

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