Zacks: Analysts Expect Planet Fitness Inc (PLNT) to Announce $0.32 EPS

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Equities research analysts predict that Planet Fitness Inc (NYSE:PLNT) will announce earnings of $0.32 per share for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Planet Fitness’ earnings, with the highest EPS estimate coming in at $0.35 and the lowest estimate coming in at $0.30. Planet Fitness posted earnings per share of $0.24 during the same quarter last year, which would indicate a positive year over year growth rate of 33.3%. The business is expected to report its next quarterly earnings report on Thursday, February 28th.

According to Zacks, analysts expect that Planet Fitness will report full year earnings of $1.20 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.24. For the next financial year, analysts expect that the company will report earnings of $1.43 per share, with EPS estimates ranging from $1.29 to $1.54. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Planet Fitness.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, November 6th. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The company had revenue of $136.66 million for the quarter, compared to analysts’ expectations of $126.10 million. Planet Fitness had a negative return on equity of 95.97% and a net margin of 11.22%. The business’s quarterly revenue was up 40.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 earnings per share.

Several analysts have recently weighed in on PLNT shares. Roth Capital set a $55.00 price target on Planet Fitness and gave the stock a “buy” rating in a report on Saturday, August 11th. ValuEngine upgraded Planet Fitness from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 14th. Guggenheim boosted their price target on Planet Fitness from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, September 24th. DA Davidson set a $58.00 price target on Planet Fitness and gave the stock a “buy” rating in a report on Tuesday, October 16th. Finally, Imperial Capital boosted their price target on Planet Fitness from $45.00 to $55.00 and gave the stock an “inline” rating in a report on Friday, November 9th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $53.07.

In related news, CEO Christopher Rondeau sold 80,000 shares of Planet Fitness stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $50.81, for a total value of $4,064,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 19.87% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware acquired a new position in shares of Planet Fitness in the third quarter worth approximately $136,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Planet Fitness in the third quarter worth approximately $156,000. Sawtooth Solutions LLC acquired a new position in Planet Fitness in the third quarter valued at approximately $218,000. Kovack Advisors Inc. acquired a new position in Planet Fitness in the third quarter valued at approximately $230,000. Finally, Keybank National Association OH acquired a new position in Planet Fitness in the third quarter valued at approximately $239,000. 90.80% of the stock is currently owned by institutional investors.

Shares of NYSE:PLNT traded down $2.77 during midday trading on Monday, hitting $53.46. 1,250,054 shares of the stock were exchanged, compared to its average volume of 1,041,416. The stock has a market cap of $5.49 billion, a P/E ratio of 63.64, a price-to-earnings-growth ratio of 2.39 and a beta of 0.77. Planet Fitness has a 12 month low of $28.98 and a 12 month high of $58.50.

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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