Analysts forecast that Planet Fitness, Inc. (NYSE:PLNT – Get Rating) will post sales of $187.75 million for the current quarter, Zacks reports. Seven analysts have issued estimates for Planet Fitness’ earnings. The highest sales estimate is $205.00 million and the lowest is $163.60 million. Planet Fitness posted sales of $111.88 million during the same quarter last year, which suggests a positive year-over-year growth rate of 67.8%. The business is expected to report its next quarterly earnings report on Thursday, May 5th.
According to Zacks, analysts expect that Planet Fitness will report full-year sales of $916.95 million for the current financial year, with estimates ranging from $908.00 million to $931.80 million. For the next financial year, analysts anticipate that the business will post sales of $1.06 billion, with estimates ranging from $923.20 million to $1.12 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Planet Fitness.
Planet Fitness (NYSE:PLNT – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Planet Fitness had a negative return on equity of 10.49% and a net margin of 7.29%. The firm had revenue of $183.60 million during the quarter, compared to the consensus estimate of $179.03 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The business’s revenue was up 37.2% on a year-over-year basis.
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A number of equities analysts recently commented on the company. TheStreet downgraded Planet Fitness from a “b-” rating to a “c” rating in a report on Thursday, February 24th. DA Davidson upped their target price on Planet Fitness from $105.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, January 12th. JPMorgan Chase & Co. upped their price target on Planet Fitness from $88.00 to $90.00 in a research note on Friday, January 14th. Cowen raised Planet Fitness to a “hold” rating and upped their price target for the stock from $100.00 to $110.00 in a research note on Wednesday, January 12th. Finally, Jefferies Financial Group upped their price target on Planet Fitness from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 5th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Planet Fitness currently has a consensus rating of “Buy” and an average price target of $99.91.
A number of hedge funds have recently bought and sold shares of the business. JustInvest LLC lifted its holdings in Planet Fitness by 452.1% in the fourth quarter. JustInvest LLC now owns 17,153 shares of the company’s stock valued at $1,554,000 after acquiring an additional 14,046 shares during the period. Waratah Capital Advisors Ltd. lifted its holdings in Planet Fitness by 5,532.2% in the fourth quarter. Waratah Capital Advisors Ltd. now owns 197,747 shares of the company’s stock valued at $17,912,000 after acquiring an additional 194,236 shares during the period. Paradigm Financial Partners LLC bought a new position in Planet Fitness in the fourth quarter valued at about $223,000. Goldman Sachs Group Inc. lifted its holdings in Planet Fitness by 23.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 686,816 shares of the company’s stock valued at $62,212,000 after acquiring an additional 131,074 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in Planet Fitness by 111.3% in the fourth quarter. Allianz Asset Management GmbH now owns 217,252 shares of the company’s stock valued at $19,679,000 after acquiring an additional 114,433 shares during the period. 98.33% of the stock is currently owned by institutional investors.
Shares of Planet Fitness stock opened at $81.80 on Wednesday. The company has a market cap of $7.08 billion, a PE ratio of 157.31, a P/E/G ratio of 2.58 and a beta of 1.20. The business has a 50 day moving average of $89.16 and a 200 day moving average of $84.53. Planet Fitness has a 52 week low of $67.89 and a 52 week high of $99.60.
About Planet Fitness (Get Rating)
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.
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