Planet Fitness, Inc. (NYSE:PLNT – Free Report) – Research analysts at William Blair cut their Q2 2024 earnings per share (EPS) estimates for shares of Planet Fitness in a research report issued to clients and investors on Thursday, July 25th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $0.65 for the quarter, down from their prior estimate of $0.67. The consensus estimate for Planet Fitness’ current full-year earnings is $2.43 per share. William Blair also issued estimates for Planet Fitness’ Q3 2024 earnings at $0.62 EPS and Q4 2024 earnings at $0.64 EPS.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $249.48 million. During the same quarter last year, the business posted $0.41 EPS. The company’s revenue was up 11.6% on a year-over-year basis.
Other research analysts have also issued research reports about the stock. Stifel Nicolaus lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and dropped their price objective for the company from $80.00 to $70.00 in a research note on Friday, May 10th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and boosted their target price for the company from $62.00 to $100.00 in a research note on Monday, June 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Friday, June 14th. Finally, Royal Bank of Canada lowered their price target on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus price target of $77.64.
Check Out Our Latest Report on Planet Fitness
Planet Fitness Price Performance
Shares of PLNT opened at $74.99 on Friday. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 43.10, a P/E/G ratio of 2.53 and a beta of 1.49. The business’s 50-day moving average is $70.90 and its 200-day moving average is $66.93. Planet Fitness has a fifty-two week low of $44.13 and a fifty-two week high of $79.09.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Verdence Capital Advisors LLC acquired a new stake in Planet Fitness during the second quarter valued at approximately $215,000. LRI Investments LLC boosted its stake in Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after buying an additional 153 shares in the last quarter. Retirement Systems of Alabama grew its position in Planet Fitness by 0.7% in the second quarter. Retirement Systems of Alabama now owns 108,032 shares of the company’s stock valued at $7,950,000 after acquiring an additional 743 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Planet Fitness by 0.8% during the second quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock valued at $1,825,000 after acquiring an additional 200 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Planet Fitness in the 2nd quarter worth about $266,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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