Piper Jaffray Companies Weighs in on Planet Fitness Inc’s Q4 2018 Earnings (PLNT)

Planet Fitness Inc (NYSE:PLNT) – Investment analysts at Piper Jaffray Companies raised their Q4 2018 earnings estimates for Planet Fitness in a research note issued on Tuesday, November 6th. Piper Jaffray Companies analyst P. Keith now anticipates that the company will post earnings of $0.31 per share for the quarter, up from their previous estimate of $0.30. Piper Jaffray Companies has a “Buy” rating and a $60.00 price target on the stock. Piper Jaffray Companies also issued estimates for Planet Fitness’ Q1 2019 earnings at $0.32 EPS, Q3 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.44 EPS and FY2019 earnings at $1.53 EPS.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The firm had revenue of $136.66 million during the quarter, compared to analysts’ expectations of $126.10 million. Planet Fitness had a net margin of 11.22% and a negative return on equity of 94.59%. The business’s revenue was up 40.2% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share.

A number of other research firms have also weighed in on PLNT. Imperial Capital raised their price target on shares of Planet Fitness from $40.00 to $45.00 and gave the company an “inline” rating in a research report on Friday, August 10th. JPMorgan Chase & Co. lowered shares of Planet Fitness from an “overweight” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research report on Monday, August 13th. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Saturday. Robert W. Baird reissued a “buy” rating and set a $56.00 price target (up from $50.00) on shares of Planet Fitness in a research report on Friday, August 10th. Finally, Bank of America raised their price target on shares of Planet Fitness from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $52.46.

Shares of NYSE PLNT opened at $54.99 on Friday. The stock has a market cap of $5.47 billion, a PE ratio of 65.46, a price-to-earnings-growth ratio of 2.41 and a beta of 0.75. Planet Fitness has a 1 year low of $28.98 and a 1 year high of $57.66.

In other Planet Fitness news, CEO Christopher Rondeau sold 80,000 shares of Planet Fitness stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $50.81, for a total value of $4,064,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Dorvin D. Lively sold 105,127 shares of Planet Fitness stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $51.23, for a total transaction of $5,385,656.21. Following the completion of the sale, the chief financial officer now directly owns 41,874 shares in the company, valued at approximately $2,145,205.02. The disclosure for this sale can be found here. Insiders have sold 500,226 shares of company stock worth $25,288,012 over the last three months. 19.87% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Planet Fitness by 1.5% in the third quarter. BlackRock Inc. now owns 6,120,786 shares of the company’s stock worth $330,705,000 after acquiring an additional 93,335 shares during the period. FMR LLC raised its holdings in Planet Fitness by 79.0% in the 3rd quarter. FMR LLC now owns 4,524,429 shares of the company’s stock worth $244,456,000 after purchasing an additional 1,997,286 shares in the last quarter. Jennison Associates LLC raised its holdings in Planet Fitness by 0.7% in the 2nd quarter. Jennison Associates LLC now owns 2,541,081 shares of the company’s stock worth $111,655,000 after purchasing an additional 18,914 shares in the last quarter. American Century Companies Inc. raised its holdings in Planet Fitness by 587.6% in the 3rd quarter. American Century Companies Inc. now owns 1,942,277 shares of the company’s stock worth $104,941,000 after purchasing an additional 1,659,806 shares in the last quarter. Finally, Artemis Investment Management LLP raised its holdings in Planet Fitness by 34.7% in the 3rd quarter. Artemis Investment Management LLP now owns 1,632,687 shares of the company’s stock worth $88,190,000 after purchasing an additional 420,233 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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

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