Analysts Anticipate Planet Fitness Inc (NYSE:PLNT) Will Post Earnings of $0.35 Per Share

Brokerages predict that Planet Fitness Inc (NYSE:PLNT) will report earnings per share of $0.35 for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Planet Fitness’ earnings. The highest EPS estimate is $0.38 and the lowest is $0.32. Planet Fitness reported earnings per share of $0.28 in the same quarter last year, which would suggest a positive year-over-year growth rate of 25%. The firm is expected to announce its next quarterly earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Planet Fitness will report full-year earnings of $1.57 per share for the current financial year, with EPS estimates ranging from $1.54 to $1.62. For the next year, analysts forecast that the business will report earnings of $1.94 per share, with EPS estimates ranging from $1.84 to $2.00. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Planet Fitness.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The business had revenue of $181.66 million for the quarter, compared to analyst estimates of $167.91 million. Planet Fitness had a negative return on equity of 46.45% and a net margin of 16.29%. The business’s revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS.

PLNT has been the topic of several research reports. Roth Capital upped their price target on Planet Fitness from $80.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research lowered Planet Fitness from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Cowen reissued an “average” rating and set a $85.00 price target (up from $65.00) on shares of Planet Fitness in a research report on Monday, April 29th. Raymond James initiated coverage on Planet Fitness in a research report on Wednesday, June 26th. They set an “outperform” rating and a $80.00 price target on the stock. Finally, Piper Jaffray Companies upped their price target on Planet Fitness from $70.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Planet Fitness currently has an average rating of “Buy” and an average price target of $76.12.

Shares of PLNT stock traded down $0.32 on Monday, hitting $69.49. 805,286 shares of the stock traded hands, compared to its average volume of 1,448,205. The company has a market capitalization of $6.38 billion, a PE ratio of 56.96, a PEG ratio of 2.02 and a beta of 0.59. Planet Fitness has a 1-year low of $44.97 and a 1-year high of $81.90. The company’s fifty day moving average is $75.40 and its 200 day moving average is $71.41.

Institutional investors and hedge funds have recently modified their holdings of the stock. Chartwell Investment Partners LLC lifted its stake in Planet Fitness by 159.8% in the 2nd quarter. Chartwell Investment Partners LLC now owns 76,879 shares of the company’s stock worth $5,569,000 after acquiring an additional 47,290 shares in the last quarter. HM Payson & Co. bought a new position in shares of Planet Fitness during the 2nd quarter worth approximately $47,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Planet Fitness by 18.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,601 shares of the company’s stock worth $559,000 after buying an additional 1,201 shares during the period. United Services Automobile Association lifted its position in shares of Planet Fitness by 6.9% during the 2nd quarter. United Services Automobile Association now owns 14,440 shares of the company’s stock worth $1,046,000 after buying an additional 928 shares during the period. Finally, Frontier Wealth Management LLC lifted its position in shares of Planet Fitness by 4.6% during the 2nd quarter. Frontier Wealth Management LLC now owns 3,670 shares of the company’s stock worth $266,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 88.05% of the company’s stock.

About Planet Fitness

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.

Featured Article: Special Dividends

Get a free copy of the Zacks research report on Planet Fitness (PLNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.