Planet Fitness (NYSE:PLNT) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.53-1.53 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.43. The company issued revenue guidance of $658.833-658.833 million, compared to the consensus revenue estimate of $637.15 million.
Several brokerages recently commented on PLNT. ValuEngine downgraded shares of Planet Fitness from a strong-buy rating to a buy rating in a research report on Friday. Zacks Investment Research downgraded shares of Planet Fitness from a buy rating to a hold rating in a research report on Wednesday, November 14th. Bank of America reiterated a buy rating and issued a $72.00 target price (up previously from $68.00) on shares of Planet Fitness in a research report on Thursday, February 28th. Roth Capital increased their target price on shares of Planet Fitness from $55.00 to $65.00 and gave the stock a buy rating in a research report on Wednesday, February 27th. Finally, Wedbush increased their price target on shares of Planet Fitness from $55.00 to $60.00 and gave the stock a neutral rating in a research note on Wednesday, February 27th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $58.36.
Planet Fitness stock traded up $1.88 during mid-day trading on Tuesday, reaching $63.62. The company had a trading volume of 2,267,128 shares, compared to its average volume of 1,424,218. Planet Fitness has a 52 week low of $35.92 and a 52 week high of $63.93. The company has a market cap of $6.03 billion, a PE ratio of 52.15, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, February 26th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Planet Fitness had a net margin of 11.22% and a negative return on equity of 95.97%. The firm had revenue of $174.40 million during the quarter, compared to the consensus estimate of $173.76 million. During the same period in the prior year, the firm earned $0.24 EPS. The business’s revenue was up 30.1% on a year-over-year basis. As a group, analysts forecast that Planet Fitness will post 1.54 earnings per share for the current year.
In other news, CEO Christopher Rondeau sold 15,500 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $60.53, for a total transaction of $938,215.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 80,000 shares of company stock valued at $4,846,495. Insiders own 16.38% of the company’s stock.
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Planet Fitness Company Profile
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.
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