$174.57 Million in Sales Expected for Planet Fitness Inc (PLNT) This Quarter

Wall Street brokerages predict that Planet Fitness Inc (NYSE:PLNT) will announce sales of $174.57 million for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Planet Fitness’ earnings. The lowest sales estimate is $167.80 million and the highest is $185.89 million. Planet Fitness reported sales of $134.03 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 30.2%. The company is scheduled to announce its next quarterly earnings report on Thursday, February 28th.

According to Zacks, analysts expect that Planet Fitness will report full-year sales of $573.04 million for the current fiscal year, with estimates ranging from $566.30 million to $584.40 million. For the next financial year, analysts expect that the company will post sales of $639.72 million, with estimates ranging from $604.96 million to $667.70 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Planet Fitness.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The firm had revenue of $136.66 million for the quarter, compared to analyst estimates of $126.10 million. Planet Fitness had a net margin of 11.22% and a negative return on equity of 95.97%. The business’s revenue for the quarter was up 40.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS.

Several brokerages have issued reports on PLNT. ValuEngine raised shares of Planet Fitness from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 14th. Piper Jaffray Companies restated a “buy” rating and issued a $60.00 target price on shares of Planet Fitness in a research note on Sunday, August 12th. Roth Capital set a $55.00 target price on shares of Planet Fitness and gave the company a “buy” rating in a research note on Saturday, August 11th. Wedbush boosted their target price on shares of Planet Fitness from $35.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Finally, Imperial Capital boosted their target price on shares of Planet Fitness from $40.00 to $45.00 and gave the company an “inline” rating in a research note on Friday, August 10th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $53.07.

Planet Fitness stock traded down $2.77 on Wednesday, hitting $53.46. The company’s stock had a trading volume of 1,250,054 shares, compared to its average volume of 1,041,416. The firm has a market capitalization of $5.49 billion, a PE ratio of 63.64, a price-to-earnings-growth ratio of 2.39 and a beta of 0.77. Planet Fitness has a one year low of $28.98 and a one year high of $58.50.

In other news, CEO Christopher Rondeau sold 80,000 shares of the business’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $50.21, for a total value of $4,016,800.00. The sale was disclosed in a filing with the SEC, which is available at this link. 19.87% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of PLNT. Vanguard Group Inc. lifted its position in Planet Fitness by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,597,408 shares of the company’s stock worth $464,518,000 after buying an additional 280,726 shares in the last quarter. BlackRock Inc. lifted its position in Planet Fitness by 1.5% during the 3rd quarter. BlackRock Inc. now owns 6,120,786 shares of the company’s stock worth $330,705,000 after buying an additional 93,335 shares in the last quarter. FMR LLC lifted its position in Planet Fitness by 79.0% during the 3rd quarter. FMR LLC now owns 4,524,429 shares of the company’s stock worth $244,456,000 after buying an additional 1,997,286 shares in the last quarter. Jennison Associates LLC lifted its position in Planet Fitness by 0.7% during the 2nd quarter. Jennison Associates LLC now owns 2,541,081 shares of the company’s stock worth $111,655,000 after buying an additional 18,914 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Planet Fitness by 587.6% during the 3rd quarter. American Century Companies Inc. now owns 1,942,277 shares of the company’s stock worth $104,941,000 after buying an additional 1,659,806 shares in the last quarter. Institutional investors own 90.80% of the company’s stock.

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.

Read More: Rule of 72

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.

Leave a Reply