Planet Fitness Inc (NYSE:PLNT) – Equities researchers at William Blair decreased their Q2 2020 earnings per share (EPS) estimates for Planet Fitness in a report released on Thursday, December 5th, according to Zacks Investment Research. William Blair analyst S. Zackfia now anticipates that the company will earn $0.52 per share for the quarter, down from their previous estimate of $0.53. William Blair also issued estimates for Planet Fitness’ Q3 2020 earnings at $0.48 EPS and FY2020 earnings at $1.91 EPS.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 target price for the company. in a report on Wednesday, November 6th. ValuEngine lowered shares of Planet Fitness from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Macquarie reaffirmed a “buy” rating and set a $90.00 target price on shares of Planet Fitness in a report on Monday, November 25th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $84.00 target price on shares of Planet Fitness in a report on Wednesday, November 13th. Finally, Imperial Capital lifted their target price on shares of Planet Fitness from $72.50 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two 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’s stock. The company has an average rating of “Buy” and an average price target of $77.46.
Shares of NYSE PLNT opened at $72.67 on Friday. Planet Fitness has a 12 month low of $48.00 and a 12 month high of $81.90. The company has a 50 day simple moving average of $69.40 and a two-hundred day simple moving average of $69.98. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 48.36, a PEG ratio of 2.25 and a beta of 0.67.
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 consensus estimate of $0.35 by $0.01. Planet Fitness had a net margin of 16.80% and a negative return on equity of 37.57%. The business had revenue of $166.82 million during the quarter, compared to analysts’ expectations of $162.26 million. During the same period in the previous year, the business posted $0.28 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can increased its holdings in Planet Fitness by 157.1% in the 2nd quarter. Bank of Montreal Can now owns 486 shares of the company’s stock worth $35,000 after acquiring an additional 297 shares in the last quarter. HM Payson & Co. purchased a new stake in Planet Fitness in the 2nd quarter worth $47,000. Tower Research Capital LLC TRC increased its holdings in Planet Fitness by 620.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 720 shares of the company’s stock worth $42,000 after acquiring an additional 620 shares in the last quarter. Captrust Financial Advisors increased its holdings in Planet Fitness by 298.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,023 shares of the company’s stock worth $74,000 after acquiring an additional 766 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Planet Fitness in the 2nd quarter worth $94,000. 90.11% of the stock is owned by institutional investors.
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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