William Blair Comments on Planet Fitness, Inc.’s FY2021 Earnings (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT) – Equities researchers at William Blair increased their FY2021 earnings per share estimates for shares of Planet Fitness in a report released on Tuesday, January 11th. William Blair analyst S. Zackfia now expects that the company will earn $0.87 per share for the year, up from their previous forecast of $0.82. William Blair also issued estimates for Planet Fitness’ Q4 2021 earnings at $0.30 EPS, Q4 2022 earnings at $0.48 EPS, FY2022 earnings at $1.60 EPS and FY2023 earnings at $2.23 EPS.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.08. Planet Fitness had a net margin of 8.51% and a negative return on equity of 9.30%. The company had revenue of $154.30 million for the quarter, compared to analyst estimates of $134.79 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The company’s quarterly revenue was up 46.4% compared to the same quarter last year.

PLNT has been the subject of a number of other research reports. Morgan Stanley upped their price objective on shares of Planet Fitness from $101.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective for the company in a research note on Tuesday, December 28th. DA Davidson upped their price target on shares of Planet Fitness from $105.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday. Cowen upgraded shares of Planet Fitness to a “hold” rating and upped their price target for the company from $100.00 to $110.00 in a report on Wednesday. Finally, Robert W. Baird upped their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $100.17.

NYSE PLNT opened at $86.78 on Thursday. The company’s 50 day moving average is $88.66 and its 200-day moving average is $81.32. Planet Fitness has a 12-month low of $67.89 and a 12-month high of $99.60. The firm has a market cap of $7.52 billion, a P/E ratio of 154.96, a price-to-earnings-growth ratio of 2.79 and a beta of 1.21.

In other Planet Fitness news, CEO Christopher Rondeau sold 150,000 shares of the stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $96.07, for a total transaction of $14,410,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.41% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PLNT. Moors & Cabot Inc. purchased a new stake in shares of Planet Fitness during the third quarter valued at about $26,000. Liberty Wealth Management LLC raised its position in shares of Planet Fitness by 388.6% in the 3rd quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock valued at $29,000 after purchasing an additional 272 shares during the last quarter. Pinnacle Holdings LLC purchased a new position in shares of Planet Fitness in the 3rd quarter valued at approximately $30,000. Manchester Capital Management LLC purchased a new position in shares of Planet Fitness in the 3rd quarter valued at approximately $35,000. Finally, Penserra Capital Management LLC purchased a new position in shares of Planet Fitness in the 2nd quarter valued at approximately $36,000. 96.38% of the stock is owned by institutional investors and hedge funds.

About Planet Fitness

Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following 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, Canada, the Dominican Republic, Panama, Mexico, and Australia.

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

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