Wall Street analysts expect Planet Fitness Inc (NYSE:PLNT) to report sales of $168.24 million for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Planet Fitness’ earnings, with the highest sales estimate coming in at $174.90 million and the lowest estimate coming in at $158.00 million. Planet Fitness posted sales of $140.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 19.7%. The firm is expected to announce its next quarterly earnings report on Thursday, August 8th.
According to Zacks, analysts expect that Planet Fitness will report full-year sales of $661.84 million for the current fiscal year, with estimates ranging from $651.40 million to $682.19 million. For the next year, analysts expect that the business will post sales of $744.19 million, with estimates ranging from $709.60 million to $801.85 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Planet Fitness.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $148.82 million for the quarter, compared to analyst estimates of $153.41 million. Planet Fitness had a net margin of 15.91% and a negative return on equity of 53.73%. Planet Fitness’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS.
Several analysts recently issued reports on PLNT shares. Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a report on Friday, May 10th. ValuEngine lowered shares of Planet Fitness from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Robert W. Baird boosted their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, April 2nd. Bank of America restated a “buy” rating and issued a $72.00 price objective (up from $68.00) on shares of Planet Fitness in a report on Thursday, February 28th. Finally, Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $75.00 in a report on Friday, February 22nd. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $67.57.
PLNT traded up $0.91 on Thursday, hitting $79.57. The company had a trading volume of 909,122 shares, compared to its average volume of 1,397,789. The firm has a market cap of $7.33 billion, a P/E ratio of 65.22, a price-to-earnings-growth ratio of 2.29 and a beta of 0.72. Planet Fitness has a 1 year low of $42.06 and a 1 year high of $81.76.
A number of large investors have recently modified their holdings of PLNT. FMR LLC increased its stake in Planet Fitness by 57.7% during the fourth quarter. FMR LLC now owns 7,135,122 shares of the company’s stock worth $382,585,000 after purchasing an additional 2,610,693 shares during the period. Norges Bank purchased a new stake in Planet Fitness during the fourth quarter worth about $42,748,000. Pelham Capital Ltd. purchased a new stake in Planet Fitness during the first quarter worth about $44,047,000. JPMorgan Chase & Co. increased its stake in Planet Fitness by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,118,663 shares of the company’s stock worth $76,874,000 after purchasing an additional 554,127 shares during the period. Finally, Federated Investors Inc. PA increased its stake in Planet Fitness by 56.2% during the first quarter. Federated Investors Inc. PA now owns 907,140 shares of the company’s stock worth $62,339,000 after purchasing an additional 326,431 shares during the period. Institutional investors own 94.00% of the company’s stock.
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.
Read More: Options Trading – What is a Straddle?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.