Planet Fitness (NYSE:PLNT – Get Free Report) is set to release its earnings data before the market opens on Thursday, May 9th. Analysts expect Planet Fitness to post earnings of $0.49 per share for the quarter. Planet Fitness has set its FY 2024 guidance at 2.460-2.490 EPS and its FY24 guidance at $2.46-2.49 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued 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 negative return on equity of 120.89% and a net margin of 12.91%. 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 prior year, the business posted $0.53 earnings per share. The business’s quarterly revenue was up 1.4% on a year-over-year basis. On average, analysts expect Planet Fitness to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Planet Fitness Stock Up 2.3 %
PLNT stock opened at $62.02 on Wednesday. The business’s 50-day moving average price is $61.44 and its 200-day moving average price is $65.24. The stock has a market cap of $5.47 billion, a P/E ratio of 38.28, a PEG ratio of 1.93 and a beta of 1.37. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $75.86.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on PLNT shares. DA Davidson reiterated a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a research report on Monday, February 5th. JPMorgan Chase & Co. cut their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Stifel Nicolaus lowered their price objective on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Royal Bank of Canada upped their price objective on Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley reissued an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research note on Monday, April 1st. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and a consensus price target of $70.21.
Check Out Our Latest Stock Report on Planet Fitness
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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