Wall Street brokerages expect Planet Fitness, Inc. (NYSE:PLNT) to report $94.84 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Planet Fitness’ earnings. The lowest sales estimate is $89.00 million and the highest is $101.35 million. Planet Fitness reported sales of $87.01 million during the same quarter last year, which indicates a positive year over year growth rate of 9%. The business is expected to announce its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Planet Fitness will report full year sales of $94.84 million for the current fiscal year, with estimates ranging from $410.21 million to $421.00 million. For the next fiscal year, analysts forecast that the business will report sales of $454.63 million per share, with estimates ranging from $445.03 million to $460.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Planet Fitness.
Planet Fitness (NYSE:PLNT) last announced its earnings results on Wednesday, August 9th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Planet Fitness had a negative return on equity of 57.01% and a net margin of 8.77%. The company had revenue of $107.31 million during the quarter, compared to analysts’ expectations of $101.99 million. During the same period last year, the business posted $0.17 EPS. Planet Fitness’s revenue for the quarter was up 17.3% on a year-over-year basis.
A number of equities analysts have recently commented on the company. BidaskClub upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Wednesday, July 12th. Roth Capital lifted their price objective on Planet Fitness from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday. Imperial Capital lifted their price objective on Planet Fitness from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, May 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $29.00 price objective (up from $26.00) on shares of Planet Fitness in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Planet Fitness presently has an average rating of “Buy” and a consensus target price of $27.33.
Planet Fitness (PLNT) opened at 24.51 on Wednesday. The company’s 50-day moving average price is $23.27 and its 200-day moving average price is $21.47. The stock has a market capitalization of $2.10 billion, a PE ratio of 42.26 and a beta of 0.90. Planet Fitness has a one year low of $18.32 and a one year high of $25.19.
A number of large investors have recently added to or reduced their stakes in the company. 1st Global Advisors Inc. increased its stake in Planet Fitness by 2.7% in the first quarter. 1st Global Advisors Inc. now owns 21,573 shares of the company’s stock worth $416,000 after buying an additional 561 shares during the period. Geneva Advisors LLC increased its stake in Planet Fitness by 4.1% in the second quarter. Geneva Advisors LLC now owns 40,691 shares of the company’s stock worth $950,000 after buying an additional 1,600 shares during the period. First Mercantile Trust Co. increased its stake in Planet Fitness by 19.8% in the first quarter. First Mercantile Trust Co. now owns 13,632 shares of the company’s stock worth $262,000 after buying an additional 2,249 shares during the period. Wolverine Trading LLC increased its stake in Planet Fitness by 24.5% in the second quarter. Wolverine Trading LLC now owns 11,704 shares of the company’s stock worth $274,000 after buying an additional 2,304 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Planet Fitness by 2.7% in the second quarter. Public Employees Retirement System of Ohio now owns 89,498 shares of the company’s stock worth $2,089,000 after buying an additional 2,369 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.
Planet Fitness Company Profile
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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