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

Wall Street analysts expect Planet Fitness Inc (NYSE:PLNT) to post earnings per share of $0.32 for the current quarter, according to Zacks. Nine analysts have issued estimates for Planet Fitness’ earnings, with estimates ranging from $0.30 to $0.35. Planet Fitness reported 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 business is scheduled to issue its next earnings report on Thursday, February 28th.

According to Zacks, analysts expect that Planet Fitness will report full year earnings of $1.20 per share for the current year, with EPS estimates ranging from $1.18 to $1.24. For the next fiscal year, analysts expect that the company will post earnings of $1.42 per share, with EPS estimates ranging from $1.29 to $1.54. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Planet Fitness.

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

PLNT has been the subject of a number of research reports. TheStreet raised Planet Fitness from a “c-” rating to a “b” rating in a research report on Monday, August 6th. DA Davidson set a $58.00 price objective on Planet Fitness and gave the company a “buy” rating in a research report on Tuesday, October 16th. Guggenheim lifted their price objective on Planet Fitness from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, September 24th. Bank of America lifted their price objective on Planet Fitness from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, November 7th. Finally, Cowen reissued a “buy” rating and set a $58.00 price objective on shares of Planet Fitness in a research report on Sunday, August 12th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Planet Fitness currently has a consensus rating of “Buy” and a consensus target price of $52.64.

Shares of Planet Fitness stock opened at $55.22 on Monday. The firm has a market capitalization of $5.39 billion, a PE ratio of 65.74, a price-to-earnings-growth ratio of 2.35 and a beta of 0.75. Planet Fitness has a 12 month low of $28.98 and a 12 month high of $57.66.

In other Planet Fitness news, CFO Dorvin D. Lively sold 31,893 shares of the business’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $50.82, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Rondeau sold 79,200 shares of the business’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $50.22, for a total value of $3,977,424.00. The disclosure for this sale can be found here. Insiders sold 271,093 shares of company stock valued at $13,679,826 in the last ninety days. Insiders own 19.87% of the company’s stock.

Large investors have recently made changes to their positions in the business. FMR LLC increased its stake in shares of Planet Fitness by 407.9% in the second quarter. FMR LLC now owns 2,527,143 shares of the company’s stock worth $111,043,000 after purchasing an additional 2,029,530 shares during the period. American Century Companies Inc. increased its stake in shares of Planet Fitness by 587.6% in the third quarter. American Century Companies Inc. now owns 1,942,277 shares of the company’s stock worth $104,941,000 after purchasing an additional 1,659,806 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Planet Fitness in the third quarter worth about $41,917,000. Capital International Investors bought a new position in shares of Planet Fitness in the third quarter worth about $35,120,000. Finally, Renaissance Technologies LLC increased its stake in shares of Planet Fitness by 183.6% in the third quarter. Renaissance Technologies LLC now owns 916,600 shares of the company’s stock worth $49,524,000 after purchasing an additional 593,400 shares during the period. 92.97% of the stock is owned by institutional investors.

Planet Fitness Company Profile

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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