Planet Fitness (NYSE:PLNT) Releases FY 2019 Earnings Guidance

Planet Fitness (NYSE:PLNT) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.54-1.54 for the period, compared to the Thomson Reuters consensus estimate of $1.54. The company issued revenue guidance of $676.01964-676.01964 million, compared to the consensus revenue estimate of $663.35 million.

A number of research firms have issued reports on PLNT. Zacks Investment Research cut shares of Planet Fitness from a buy rating to a hold rating in a report on Friday, May 10th. Bank of America restated a buy rating and set a $86.00 price target (up from $72.00) on shares of Planet Fitness in a report on Wednesday, May 1st. Piper Jaffray Companies upped their price target on shares of Planet Fitness from $70.00 to $84.00 and gave the company an overweight rating in a report on Monday, April 29th. They noted that the move was a valuation call. Raymond James began coverage on shares of Planet Fitness in a report on Wednesday, June 26th. They set an outperform rating and a $80.00 price target for the company. Finally, Cowen restated an average rating and set a $85.00 price target (up from $65.00) on shares of Planet Fitness in a report on Monday, April 29th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $69.50.

Shares of NYSE PLNT traded up $2.76 during mid-day trading on Tuesday, hitting $77.50. 1,666,257 shares of the stock were exchanged, compared to its average volume of 1,444,693. The firm has a market cap of $7.03 billion, a P/E ratio of 63.52, a P/E/G ratio of 2.29 and a beta of 0.59. The firm’s fifty day moving average price is $76.34. Planet Fitness has a twelve month low of $44.97 and a twelve month high of $81.90.

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

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