$187.96 Million in Sales Expected for Planet Fitness Inc (NYSE:PLNT) T…

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.

Recommended Story: Stock Symbol

Get a free copy of the Zacks research report on Planet Fitness (PLNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Planet Fitness (NYSE:PLNT)

Receive News & Ratings for Planet Fitness Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Planet Fitness and related companies with MarketBeat.com’s FREE daily email newsletter.


Source link Planet Fitness