Planet Fitness, Inc. (NYSE:PLNT – Free Report) – Stock analysts at William Blair lowered their Q2 2024 earnings estimates for Planet Fitness in a report issued on Thursday, May 9th. William Blair analyst S. Zackfia now anticipates that the company will earn $0.67 per share for the quarter, down from their prior forecast of $0.68. The consensus estimate for Planet Fitness’ current full-year earnings is $2.41 per share. William Blair also issued estimates for Planet Fitness’ FY2025 earnings at $2.76 EPS.
Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research report on Monday, April 1st. DA Davidson reaffirmed a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a report on Thursday. Raymond James lifted their price objective on Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Friday. JPMorgan Chase & Co. reduced their price target on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. Finally, StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.43.
Check Out Our Latest Stock Analysis on Planet Fitness
Planet Fitness Trading Down 0.6 %
NYSE:PLNT opened at $64.95 on Monday. The stock has a 50-day moving average price of $61.54 and a 200 day moving average price of $65.44. The stock has a market capitalization of $5.73 billion, a P/E ratio of 37.33, a P/E/G ratio of 2.12 and a beta of 1.37. Planet Fitness has a 12-month low of $44.13 and a 12-month high of $75.86.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. Planet Fitness’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS.
Institutional Trading of Planet Fitness
Several institutional investors and hedge funds have recently modified their holdings of PLNT. Allworth Financial LP lifted its holdings in shares of Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after buying an additional 255 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Planet Fitness in the 1st quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Planet Fitness in the 4th quarter worth approximately $47,000. Asset Management One Co. Ltd. boosted its stake in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after purchasing an additional 148 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Planet Fitness by 24.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after buying an additional 197 shares during the period. Institutional investors own 95.53% of the company’s stock.
Planet Fitness Company Profile
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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