Planet Fitness Inc (PLNT) Expected to Announce Earnings of $0.32 Per Share

Analysts forecast that Planet Fitness Inc (NYSE:PLNT) will post earnings per share (EPS) of $0.32 for the current quarter, Zacks reports. Nine analysts have made estimates for Planet Fitness’ earnings. The lowest EPS estimate is $0.30 and the highest is $0.35. Planet Fitness posted earnings per share of $0.24 during the same quarter last year, which would indicate a positive year over year growth rate of 33.3%. The company is scheduled to announce its next quarterly earnings report on Thursday, February 28th.

On average, analysts expect that Planet Fitness will report full-year earnings of $1.20 per share for the current financial year, with EPS estimates ranging from $1.18 to $1.24. For the next financial year, analysts forecast that the business will report earnings of $1.42 per share, with EPS estimates ranging from $1.29 to $1.54. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Planet Fitness.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. The firm had revenue of $136.66 million for the quarter, compared to analysts’ expectations of $126.10 million. Planet Fitness had a net margin of 11.22% and a negative return on equity of 95.97%. The business’s revenue was up 40.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS.

A number of equities analysts have commented on PLNT shares. Imperial Capital upped their target price on shares of Planet Fitness from $40.00 to $45.00 and gave the stock an “inline” rating in a research note on Friday, August 10th. Zacks Investment Research downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. JPMorgan Chase & Co. downgraded shares of Planet Fitness from an “overweight” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research note on Monday, August 13th. Robert W. Baird restated a “buy” rating and issued a $56.00 target price (up from $50.00) on shares of Planet Fitness in a research note on Friday, August 10th. Finally, Bank of America increased their price objective on shares of Planet Fitness from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, November 7th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Planet Fitness has a consensus rating of “Buy” and a consensus price target of $53.07.

In related news, CFO Dorvin D. Lively sold 31,893 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $50.82, for a total transaction of $1,620,802.26. Following the completion of the sale, the chief financial officer now owns 31,893 shares of the company’s stock, valued at $1,620,802.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Rondeau sold 80,000 shares of the stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $50.81, for a total transaction of $4,064,800.00. The disclosure for this sale can be found here. Insiders have sold 191,893 shares of company stock valued at $9,702,402 in the last three months. 19.87% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Planet Fitness in the third quarter worth $136,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Planet Fitness in the 3rd quarter valued at approximately $156,000. Sawtooth Solutions LLC purchased a new stake in shares of Planet Fitness in the 3rd quarter valued at approximately $218,000. Kovack Advisors Inc. acquired a new position in shares of Planet Fitness in the third quarter valued at approximately $230,000. Finally, Keybank National Association OH acquired a new position in shares of Planet Fitness in the third quarter valued at approximately $239,000. 90.80% of the stock is owned by institutional investors and hedge funds.

PLNT stock traded up $0.12 during mid-day trading on Monday, reaching $55.76. The company had a trading volume of 691,331 shares, compared to its average volume of 1,287,964. The company has a market capitalization of $5.43 billion, a P/E ratio of 66.38, a P/E/G ratio of 2.36 and a beta of 0.77. Planet Fitness has a 12 month low of $28.98 and a 12 month high of $58.50.

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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