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
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.