Planet Fitness, Inc. (NYSE:PLNT – Get Rating ) – Analysts at DA Davidson issued their Q2 2023 EPS estimates for Planet Fitness in a research report issued on Monday, May 8th. DA Davidson analyst L. Weiser forecasts that the company will earn $0.54 per share for the quarter. The consensus estimate for Planet Fitness’ current full-year earnings is $2.20 per share. DA Davidson also issued estimates for Planet Fitness’s FY2024 earnings at $2.58 EPS.
PLNT has been the subject of several other reports. Stifel Nicolaus cut their target price on Planet Fitness from $93.00 to $78.00 in a research report on Friday. Raymond James boosted their target price on Planet Fitness from $92.00 to $95.00 and gave the company a “strong-buy” rating in a research report on Friday, February 24th. Cowen boosted their target price on Planet Fitness from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, February 27th. Piper Sandler boosted their price objective on shares of Planet Fitness from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday, April 10th. Finally, Robert W. Baird cut their target price on shares of Planet Fitness from $105.00 to $95.00 in a research report on Friday. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.67, according to MarketBeat .
Planet Fitness stock rose 3.6%
PLNT stock opened at $72.02 on Tuesday. The business’s 50-day moving average is $77.43 and its 200-day moving average is $76.84. Planet Fitness has a twelve month low of $54.15 and a twelve month high of $85.90. The stock has a market cap of $6.44 billion, a PE ratio of 57.62, a P/E/G ratio of 1.24 and a beta of 1.30.
Planet Fitness (NYSE:PLNT – Get Rating ) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The business had revenue of $222.23 million for the quarter, compared to analysts’ expectations of $238.30 million. Planet Fitness had a net margin of 10.86% and a negative return on equity of 68.11%. Planet Fitness’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share.
Planet Fitness Institutional Trading
A number of institutional investors have recently made changes to their positions in the stock. Eagle Asset Management Inc. raised its stake in shares of Planet Fitness by 8.1% during the first quarter. Eagle Asset Management Inc. now owns 2,182,052 shares of the company’s stock valued at $169,479,000 after purchasing an additional 164,178 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of Planet Fitness by 1.0% during the first quarter. Public Employees Retirement Association of Colorado now owns 322,133 shares of the company’s stock valued at $25,020,000 after purchasing an additional 3,183 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Planet Fitness by 4.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,691 shares of the company’s stock valued at $986,000 after purchasing an additional 574 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of Planet Fitness in the first quarter valued at approximately $3,796,000. Finally, Empire Life Investments Inc. raised its stake in shares of Planet Fitness by 25.8% in the first quarter. Empire Life Investments Inc. now owns 17,436 shares of the company’s stock valued at $1,354,000 after purchasing an additional 3,579 shares during the period. Hedge funds and other institutional investors own 94.56% of the company’s shares.
About Planet Fitness
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Planet Fitness, Inc. operates and franchises fitness centers. It operates through the following segments: Franchising, Corporate Stores and Equipment. The Franchise segment includes operations related to the Company’s franchise business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico and Australia.
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