Planet Fitness Inc (PLNT) Expected to Post Quarterly Sales of $140.10 Million

March 13, 2019 - Comment

Wall Street analysts predict that Planet Fitness Inc (NYSE:PLNT) will report sales of $140.10 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Planet Fitness’ earnings. The highest sales estimate is $142.70 million and the lowest is $135.70 million. Planet Fitness reported sales of $121.33 million during the same


Wall Street analysts predict that Planet Fitness Inc (NYSE:PLNT) will report sales of $140.10 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Planet Fitness’ earnings. The highest sales estimate is $142.70 million and the lowest is $135.70 million. Planet Fitness reported sales of $121.33 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.5%. The firm is scheduled to issue its next earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that Planet Fitness will report full year sales of $654.30 million for the current year. For the next year, analysts anticipate that the company will report sales of $723.64 million, with estimates ranging from $684.90 million to $765.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Planet Fitness.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 26th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $174.40 million for the quarter, compared to analyst estimates of $173.76 million. Planet Fitness had a net margin of 11.22% and a negative return on equity of 95.97%. The business’s revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS.

A number of brokerages have recently weighed in on PLNT. Bank of America restated a “buy” rating and issued a $72.00 target price (up previously from $68.00) on shares of Planet Fitness in a research note on Thursday, February 28th. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $75.00 in a report on Friday, February 22nd. They noted that the move was a valuation call. Macquarie lowered shares of Planet Fitness from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Monday, November 12th. Finally, Wedbush upped their price objective on shares of Planet Fitness from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, February 27th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $58.36.

In other Planet Fitness news, CEO Christopher Rondeau sold 15,500 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $60.53, for a total value of $938,215.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director David P. Berg sold 6,291 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $61.73, for a total value of $388,343.43. Following the transaction, the director now directly owns 6,615 shares of the company’s stock, valued at approximately $408,343.95. The disclosure for this sale can be found here. Insiders sold a total of 166,291 shares of company stock worth $10,289,238 over the last three months. 16.38% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PLNT. Prudential Financial Inc. raised its stake in shares of Planet Fitness by 2.2% during the 4th quarter. Prudential Financial Inc. now owns 9,627 shares of the company’s stock worth $516,000 after acquiring an additional 203 shares in the last quarter. Bessemer Group Inc. increased its stake in Planet Fitness by 30.6% in the 4th quarter. Bessemer Group Inc. now owns 1,127 shares of the company’s stock valued at $60,000 after buying an additional 264 shares during the period. ETRADE Capital Management LLC boosted its position in shares of Planet Fitness by 4.0% during the 4th quarter. ETRADE Capital Management LLC now owns 6,864 shares of the company’s stock worth $368,000 after purchasing an additional 267 shares in the last quarter. National Asset Management Inc. boosted its position in shares of Planet Fitness by 2.5% in the 4th quarter. National Asset Management Inc. now owns 11,574 shares of the company’s stock worth $621,000 after buying an additional 278 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Planet Fitness by 99.3% in the 4th quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock worth $31,000 after buying an additional 284 shares in the last quarter. Institutional investors own 90.59% of the company’s stock.

NYSE PLNT traded up $0.84 during trading hours on Thursday, hitting $66.57. The company had a trading volume of 1,213,807 shares, compared to its average volume of 1,429,142. The firm has a market capitalization of $6.15 billion, a PE ratio of 54.57, a P/E/G ratio of 2.08 and a beta of 0.73. Planet Fitness has a fifty-two week low of $35.92 and a fifty-two week high of $66.81.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

Featured Article: How to invest in a bear market

Get a free copy of the Zacks research report on Planet Fitness (PLNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Planet Fitness (NYSE:PLNT)

Receive News & Ratings for Planet Fitness Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Planet Fitness and related companies with MarketBeat.com’s FREE daily email newsletter.



Source link

Comments

Write a comment

*