Planet Fitness (NYSE:PLNT) Posts Earnings Results, Beats Expectations By $0.04 EPS

Planet Fitness (NYSE:PLNT) announced its quarterly earnings data on Tuesday. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.04, Bloomberg Earnings reports. Planet Fitness had a negative return on equity of 53.73% and a net margin of 15.91%. The business had revenue of $181.66 million for the quarter, compared to analysts’ expectations of $167.91 million. During the same period in the previous year, the business posted $0.34 EPS. The firm’s quarterly revenue was up 29.2% compared to the same quarter last year. Planet Fitness updated its FY 2019 guidance to $1.54-1.54 EPS and its FY19 guidance to ~$1.54 EPS.

PLNT stock opened at $77.50 on Wednesday. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 63.52, a PEG ratio of 2.29 and a beta of 0.59. Planet Fitness has a twelve month low of $44.97 and a twelve month high of $81.90. The firm’s 50-day moving average is $76.26.

A number of equities research analysts recently issued reports on the company. ValuEngine cut Planet Fitness from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 17th. Macquarie upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $64.00 to $85.00 in a research note on Tuesday, May 7th. Piper Jaffray Companies boosted their price objective on Planet Fitness from $70.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price objective on Planet Fitness from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Bank of America restated a “buy” rating and issued a $86.00 price objective (up from $72.00) on shares of Planet Fitness in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $69.50.

A number of hedge funds have recently bought and sold shares of the business. OppenheimerFunds Inc. grew its holdings in Planet Fitness by 11.4% during the 1st quarter. OppenheimerFunds Inc. now owns 1,365,027 shares of the company’s stock valued at $93,804,000 after buying an additional 139,907 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Planet Fitness by 6.2% during the first quarter. Wells Fargo & Company MN now owns 1,329,086 shares of the company’s stock worth $91,334,000 after purchasing an additional 77,804 shares in the last quarter. Pelham Capital Ltd. grew its holdings in shares of Planet Fitness by 104.2% during 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 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 in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Planet Fitness by 6.8% during the first quarter. Blair William & Co. IL now owns 983,688 shares of the company’s stock worth $67,599,000 after purchasing an additional 62,461 shares in the last quarter. 93.54% of the stock is owned by institutional investors and hedge funds.

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 for Planet Fitness (NYSE:PLNT)

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