Analysts expect that Planet Fitness Inc (NYSE:PLNT) will post sales of $187.96 million for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Planet Fitness’ earnings, with estimates ranging from $181.92 million to $201.57 million. Planet Fitness reported sales of $174.36 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.8%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 25th.
On average, analysts expect that Planet Fitness will report full-year sales of $685.22 million for the current year, with estimates ranging from $679.00 million to $698.87 million. For the next fiscal year, analysts forecast that the company will post sales of $781.52 million, with estimates ranging from $750.34 million to $815.54 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Planet Fitness.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The firm had revenue of $166.82 million during the quarter, compared to analysts’ expectations of $162.26 million. Planet Fitness had a negative return on equity of 37.57% and a net margin of 16.80%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share.
Several research analysts recently issued reports on PLNT shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $84.00 target price on shares of Planet Fitness in a research report on Wednesday. Imperial Capital lifted their target price on Planet Fitness from $72.50 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday. Berenberg Bank cut Planet Fitness from a “buy” rating to a “hold” rating and cut their target price for the company from $80.00 to $69.00 in a research report on Tuesday, September 3rd. Roth Capital cut their target price on Planet Fitness from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, Zacks Investment Research cut Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 target price on the stock. in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $77.08.
A number of hedge funds have recently bought and sold shares of PLNT. Invesco Ltd. boosted its position in Planet Fitness by 547.3% in the second quarter. Invesco Ltd. now owns 2,271,707 shares of the company’s stock worth $164,563,000 after purchasing an additional 1,920,729 shares during the last quarter. Putnam Investments LLC boosted its position in Planet Fitness by 376.5% in the second quarter. Putnam Investments LLC now owns 1,188,398 shares of the company’s stock worth $86,087,000 after purchasing an additional 938,985 shares during the last quarter. Pelham Capital Ltd. boosted its position in Planet Fitness by 104.2% in the second quarter. Pelham Capital Ltd. now owns 1,309,081 shares of the company’s stock worth $94,830,000 after purchasing an additional 668,113 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Planet Fitness in the second quarter worth $41,592,000. Finally, Scout Investments Inc. purchased a new position in Planet Fitness in the third quarter worth $23,796,000. 87.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:PLNT traded up $1.35 during mid-day trading on Wednesday, hitting $71.45. 837,860 shares of the company traded hands, compared to its average volume of 1,697,129. The stock has a market cap of $6.58 billion, a P/E ratio of 58.57, a P/E/G ratio of 2.14 and a beta of 0.63. Planet Fitness has a 12-month low of $48.00 and a 12-month high of $81.90. The stock has a 50-day moving average price of $61.31 and a two-hundred day moving average price of $70.45.
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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