Zacks: Analysts Expect Planet Fitness, Inc. (PLNT) to Announce $0.23 Earnings Per Share

Analysts expect Planet Fitness, Inc. (NYSE:PLNT) to post earnings of $0.23 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Planet Fitness’ earnings. The highest EPS estimate is $0.28 and the lowest is $0.20. Planet Fitness posted earnings of $0.20 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 15%. The firm is expected to announce its next quarterly earnings report on Wednesday, March 7th.

On average, analysts expect that Planet Fitness will report full-year earnings of $0.82 per share for the current financial year, with EPS estimates ranging from $0.80 to $0.84. For the next fiscal year, analysts forecast that the business will post earnings of $1.00 per share, with EPS estimates ranging from $0.90 to $1.15. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Planet Fitness.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $93.55 million. During the same quarter in the previous year, the business earned $0.16 EPS. The company’s revenue was up 12.1% compared to the same quarter last year.

A number of equities analysts have recently weighed in on the company. Cowen boosted their target price on Planet Fitness from $30.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 10th. Robert W. Baird restated an “outperform” rating and issued a $31.00 target price (up previously from $28.00) on shares of Planet Fitness in a research note on Wednesday, October 4th. Imperial Capital boosted their target price on Planet Fitness from $33.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. BidaskClub upgraded Planet Fitness from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Finally, Zacks Investment Research downgraded Planet Fitness from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Planet Fitness has an average rating of “Buy” and an average target price of $32.88.

In related news, CAO Richard L. Moore sold 1,640 shares of Planet Fitness stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $27.00, for a total value of $44,280.00. Following the sale, the chief accounting officer now owns 1,640 shares of the company’s stock, valued at approximately $44,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Rondeau sold 60,000 shares of Planet Fitness stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $32.54, for a total transaction of $1,952,400.00. The disclosure for this sale can be found here. Insiders sold a total of 1,134,427 shares of company stock worth $34,941,422 in the last ninety days. 19.87% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in Planet Fitness by 15.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,611,176 shares of the company’s stock valued at $178,370,000 after acquiring an additional 902,240 shares during the period. Vanguard Group Inc. raised its holdings in Planet Fitness by 30.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock valued at $151,286,000 after acquiring an additional 1,504,593 shares during the period. BlackRock Inc. raised its holdings in Planet Fitness by 108.4% during the 2nd quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after acquiring an additional 2,496,984 shares during the period. Investec Asset Management LTD bought a new stake in Planet Fitness during the 3rd quarter valued at $115,312,000. Finally, Capital World Investors raised its holdings in Planet Fitness by 15.9% during the 2nd quarter. Capital World Investors now owns 4,123,511 shares of the company’s stock valued at $96,243,000 after acquiring an additional 565,225 shares during the period.

Planet Fitness (NYSE:PLNT) opened at $32.37 on Monday. Planet Fitness has a 12 month low of $18.32 and a 12 month high of $35.03. The firm has a market capitalization of $3,184.01, a P/E ratio of 49.05, a PEG ratio of 1.91 and a beta of 1.00. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of -5.00.

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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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