Planet Fitness, Inc. (NYSE:PLNT – Free Report) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Planet Fitness in a research report issued to clients and investors on Friday, May 10th. DA Davidson analyst L. Weiser anticipates that the company will post earnings of $0.69 per share for the quarter. DA Davidson has a “Neutral” rating and a $62.00 price objective on the stock. The consensus estimate for Planet Fitness’ current full-year earnings is $2.41 per share. DA Davidson also issued estimates for Planet Fitness’ FY2024 earnings at $2.40 EPS.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis.
A number of other equities analysts also recently weighed in on PLNT. Raymond James boosted their price target on shares of Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Friday. Royal Bank of Canada reduced their price objective on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Friday. Stifel Nicolaus cut Planet Fitness from a “buy” rating to a “hold” rating and dropped their price target for the company from $80.00 to $70.00 in a research report on Friday. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Robert W. Baird upped their price objective on shares of Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.43.
Read Our Latest Report on Planet Fitness
Planet Fitness Stock Down 0.6 %
Shares of NYSE PLNT opened at $64.95 on Monday. The stock’s 50 day moving average price is $61.54 and its 200-day moving average price is $65.44. The company has a market capitalization of $5.73 billion, a PE ratio of 37.33, a PEG ratio of 2.12 and a beta of 1.37. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $75.86.
Institutional Investors Weigh In On Planet Fitness
Institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its position in Planet Fitness by 679.8% during the third quarter. Commonwealth Equity Services LLC now owns 31,978 shares of the company’s stock worth $1,573,000 after buying an additional 27,877 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Planet Fitness by 7.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 71,355 shares of the company’s stock worth $3,509,000 after purchasing an additional 4,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Planet Fitness by 29.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,823 shares of the company’s stock worth $877,000 after purchasing an additional 4,080 shares in the last quarter. Sandy Spring Bank raised its stake in Planet Fitness by 125.0% in the third quarter. Sandy Spring Bank now owns 4,500 shares of the company’s stock valued at $221,000 after purchasing an additional 2,500 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Planet Fitness by 4.1% during the third quarter. California Public Employees Retirement System now owns 155,207 shares of the company’s stock valued at $7,633,000 after purchasing an additional 6,098 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.
About Planet Fitness
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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