William Blair Weighs in on Planet Fitness, Inc.’s FY2024 Earnings (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT – Free Report) – Research analysts at William Blair lifted their FY2024 EPS estimates for Planet Fitness in a research report issued to clients and investors on Thursday, July 25th. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of $2.44 for the year, up from their previous estimate of $2.41. The consensus estimate for Planet Fitness’ current full-year earnings is $2.43 per share. William Blair also issued estimates for Planet Fitness’ FY2025 earnings at $2.81 EPS.

A number of other research firms also recently weighed in on PLNT. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their target price for the company from $66.00 to $92.00 in a research report on Monday, June 24th. Robert W. Baird raised their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a research report on Friday, June 14th. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and raised their target price for the company from $68.00 to $78.00 in a research report on Tuesday, May 14th. Finally, StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.64.

Read Our Latest Stock Analysis on PLNT

Planet Fitness Stock Up 0.4 %

Shares of NYSE:PLNT opened at $74.99 on Monday. Planet Fitness has a 12 month low of $44.13 and a 12 month high of $79.09. The company’s fifty day simple moving average is $70.90 and its 200 day simple moving average is $66.84. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 43.10, a PEG ratio of 2.52 and a beta of 1.49.

Planet Fitness (NYSE:PLNT – Get Free Report) last issued 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 business had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis.

Institutional Trading of Planet Fitness

A number of hedge funds have recently modified their holdings of PLNT. Dorsal Capital Management LP acquired a new stake in shares of Planet Fitness during the 4th quarter worth about $182,500,000. Greenvale Capital LLP raised its stake in Planet Fitness by 291.3% in the 4th quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock worth $127,103,000 after purchasing an additional 1,296,140 shares in the last quarter. Norges Bank acquired a new stake in Planet Fitness in the 4th quarter worth about $65,674,000. Steadfast Capital Management LP raised its stake in Planet Fitness by 97.7% in the 1st quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock worth $86,546,000 after purchasing an additional 682,863 shares in the last quarter. Finally, Junto Capital Management LP raised its stake in Planet Fitness by 255.4% in the 4th quarter. Junto Capital Management LP now owns 756,934 shares of the company’s stock worth $55,256,000 after purchasing an additional 543,942 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Company Profile

(Get Free Report)

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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