Q4 2018 Earnings Estimate for Planet Fitness, Inc. Issued By Imperial Capital (PLNT)

Planet Fitness, Inc. (NYSE:PLNT) – Research analysts at Imperial Capital upped their Q4 2018 earnings per share estimates for Planet Fitness in a research note issued on Friday. Imperial Capital analyst G. Kelly now anticipates that the company will earn $0.28 per share for the quarter, up from their prior estimate of $0.27. Imperial Capital currently has a “Outperform” rating and a $38.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. BidaskClub upgraded Planet Fitness from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Jefferies Group reiterated a “buy” rating and set a $29.00 price target on shares of Planet Fitness in a research report on Thursday, September 14th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Wednesday, October 11th. DA Davidson initiated coverage on Planet Fitness in a research report on Monday, November 20th. They set a “buy” rating on the stock. Finally, Cowen reiterated a “buy” rating and set a $30.00 price target on shares of Planet Fitness in a research report on Friday, November 10th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.88.

Shares of Planet Fitness (NYSE:PLNT) traded down $0.40 on Monday, hitting $33.09. The stock had a trading volume of 1,757,440 shares, compared to its average volume of 1,585,083. Planet Fitness has a 12-month low of $18.32 and a 12-month high of $35.03. The company has a market capitalization of $3,250.00 and a PE ratio of 49.39. The company has a debt-to-equity ratio of -5.00, a quick ratio of 1.56 and a current ratio of 1.57.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. The firm had revenue of $97.50 million for the quarter, compared to analysts’ expectations of $93.55 million. During the same period in the prior year, the business posted $0.16 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis.

Hedge funds and other institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can boosted its stake in Planet Fitness by 126.5% in the second quarter. Great West Life Assurance Co. Can now owns 10,137 shares of the company’s stock worth $236,000 after buying an additional 5,662 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Planet Fitness by 42.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 343,217 shares of the company’s stock worth $8,011,000 after buying an additional 102,785 shares in the last quarter. Rhumbline Advisers boosted its stake in Planet Fitness by 236.3% in the second quarter. Rhumbline Advisers now owns 94,911 shares of the company’s stock worth $2,215,000 after buying an additional 66,687 shares in the last quarter. Legal & General Group Plc boosted its stake in Planet Fitness by 244.8% in the second quarter. Legal & General Group Plc now owns 20,904 shares of the company’s stock worth $489,000 after buying an additional 14,842 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Planet Fitness by 412.9% in the second quarter. BNP Paribas Arbitrage SA now owns 10,093 shares of the company’s stock worth $236,000 after buying an additional 8,125 shares in the last quarter.

In other news, CAO Richard L. Moore sold 1,640 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $27.00, for a total transaction of $44,280.00. Following the completion of the transaction, the chief accounting officer now owns 1,640 shares of the company’s stock, valued at $44,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Rondeau sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $25.87, for a total value of $517,400.00. The disclosure for this sale can be found here. Insiders have sold 1,074,427 shares of company stock valued at $32,989,022 in the last three months. 19.87% of the stock is owned by insiders.

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About Planet Fitness

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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