Planet Fitness, Inc. (NYSE:PLNT – Free Report) – Equities research analysts at William Blair dropped their Q2 2024 EPS estimates for shares of Planet Fitness in a report issued on Monday, April 29th. William Blair analyst S. Zackfia now forecasts that the company will post earnings of $0.68 per share for the quarter, down from their prior forecast of $0.72. The consensus estimate for Planet Fitness’ current full-year earnings is $2.48 per share. William Blair also issued estimates for Planet Fitness’ Q3 2024 earnings at $0.53 EPS and Q4 2024 earnings at $0.80 EPS.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The business had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $282.35 million. During the same quarter in the previous year, the company earned $0.53 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year.
Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada upped their price objective on shares of Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Stifel Nicolaus cut their price objective on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Tuesday. Piper Sandler increased their price target on shares of Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th. Finally, Morgan Stanley reissued an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research report on Monday, April 1st. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average target price of $71.00.
Read Our Latest Stock Report on PLNT
Planet Fitness Stock Performance
Shares of Planet Fitness stock opened at $60.09 on Wednesday. Planet Fitness has a 52-week low of $44.13 and a 52-week high of $83.11. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37. The company has a fifty day moving average of $61.63 and a 200-day moving average of $64.97.
Hedge Funds Weigh In On Planet Fitness
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Asset Management One Co. Ltd. raised its stake in Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after acquiring an additional 148 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Planet Fitness by 1.1% during the first quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock valued at $1,026,000 after buying an additional 174 shares during the last quarter. Amalgamated Bank raised its position in shares of Planet Fitness by 0.3% during the fourth quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock valued at $4,203,000 after buying an additional 179 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Planet Fitness by 2.8% during the fourth quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock valued at $494,000 after buying an additional 182 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Planet Fitness by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock valued at $1,841,000 after buying an additional 190 shares during the last quarter. Hedge funds and other 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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