Planet Fitness, Inc. (NYSE:PLNT) to Post Q3 2022 Earnings of $0.42 Per Share, Jefferies Financial Group Forecasts

Planet Fitness, Inc. (NYSE:PLNTGet Rating) – Stock analysts at Jefferies Financial Group lowered their Q3 2022 earnings per share estimates for shares of Planet Fitness in a report released on Tuesday, May 10th. Jefferies Financial Group analyst R. Konik now anticipates that the company will earn $0.42 per share for the quarter, down from their previous forecast of $0.48. Jefferies Financial Group also issued estimates for Planet Fitness’ Q2 2023 earnings at $0.55 EPS, Q3 2023 earnings at $0.56 EPS and Q4 2023 earnings at $0.54 EPS.

Planet Fitness (NYSE:PLNTGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Planet Fitness had a net margin of 8.11% and a negative return on equity of 13.60%. The firm had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $190.44 million. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue was up 66.8% compared to the same quarter last year.

A number of other equities analysts have also recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Planet Fitness from $96.00 to $88.00 in a research report on Wednesday. TheStreet cut shares of Planet Fitness from a “b-” rating to a “c” rating in a research report on Thursday, February 24th. Robert W. Baird reduced their price objective on shares of Planet Fitness from $108.00 to $92.00 in a research report on Wednesday. Zacks Investment Research cut shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 price objective for the company. in a research report on Wednesday, March 2nd. Finally, DA Davidson reduced their price objective on shares of Planet Fitness from $110.00 to $90.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Planet Fitness currently has an average rating of “Buy” and an average target price of $96.50.

PLNT opened at $72.59 on Thursday. The firm has a fifty day moving average price of $81.68 and a 200 day moving average price of $85.60. Planet Fitness has a 1 year low of $67.39 and a 1 year high of $99.60. The stock has a market cap of $6.61 billion, a P/E ratio of 113.42, a P/E/G ratio of 2.23 and a beta of 1.16.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. grew its holdings in shares of Planet Fitness by 3.7% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,417 shares of the company’s stock valued at $310,000 after purchasing an additional 122 shares during the period. Arizona State Retirement System grew its holdings in shares of Planet Fitness by 0.6% in the first quarter. Arizona State Retirement System now owns 22,529 shares of the company’s stock valued at $1,903,000 after purchasing an additional 127 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Planet Fitness by 29.7% in the fourth quarter. Global Retirement Partners LLC now owns 563 shares of the company’s stock valued at $51,000 after purchasing an additional 129 shares during the period. Royal Bank of Canada grew its holdings in shares of Planet Fitness by 0.8% in the third quarter. Royal Bank of Canada now owns 17,076 shares of the company’s stock valued at $1,342,000 after purchasing an additional 141 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Planet Fitness by 0.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 48,806 shares of the company’s stock valued at $4,421,000 after purchasing an additional 148 shares during the period. 93.87% of the stock is owned by hedge funds and other institutional investors.

About Planet Fitness (Get Rating)

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

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

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