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.
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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