Planet Fitness, Inc. (NYSE:PLNT) to Post Q2 2022 Earnings of $0.39 Per Share, William Blair Forecasts

Planet Fitness, Inc. (NYSE:PLNT – Get Rating) – Analysts at William Blair increased their Q2 2022 earnings per share (EPS) estimates for Planet Fitness in a report issued on Tuesday, August 2nd. William Blair analyst S. Zackfia now expects that the company will post earnings per share of $0.39 for the quarter, up from their previous forecast of $0.33. The consensus estimate for Planet Fitness’ current full-year earnings is $1.55 per share. William Blair also issued estimates for Planet Fitness’ FY2022 earnings at $1.52 EPS.

Other research analysts have also issued reports about the company. Exane BNP Paribas upgraded Planet Fitness from an “underperform” rating to a “neutral” rating in a research report on Thursday, July 7th. Robert W. Baird lowered their price target on Planet Fitness from $108.00 to $92.00 in a research report on Wednesday, May 11th. Piper Sandler lowered their price target on Planet Fitness from $87.00 to $72.00 in a research report on Wednesday, May 11th. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a research report on Wednesday, May 11th. Finally, DA Davidson lowered their price target on Planet Fitness from $110.00 to $90.00 in a research report on Friday, May 13th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Planet Fitness Stock Down 0.0 %

PLNT stock opened at $80.25 on Thursday. Planet Fitness has a 52-week low of $61.11 and a 52-week high of $99.60. The business has a fifty day moving average of $72.20 and a two-hundred day moving average of $78.76. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 125.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.17.

Planet Fitness (NYSE:PLNT – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The company had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $190.44 million. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. O Dell Group LLC purchased a new stake in Planet Fitness during the 1st quarter worth about $30,000. Lazard Asset Management LLC purchased a new stake in Planet Fitness during the 4th quarter worth about $33,000. First Horizon Advisors Inc. lifted its holdings in Planet Fitness by 290.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 781 shares of the company’s stock worth $53,000 after buying an additional 581 shares during the last quarter. CWM LLC purchased a new stake in Planet Fitness during the 4th quarter worth about $56,000. Finally, Ellevest Inc. lifted its holdings in Planet Fitness by 1,098.8% during the 2nd quarter. Ellevest Inc. now owns 971 shares of the company’s stock worth $66,000 after buying an additional 890 shares during the last quarter. 93.87% of the stock is currently owned by hedge funds and other institutional investors.

About Planet Fitness

(Get Rating)

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.