Planet Fitness Inc (NYSE:PLNT) – Analysts at William Blair increased their Q1 2020 EPS estimates for Planet Fitness in a research note issued to investors on Thursday, December 5th. William Blair analyst S. Zackfia now expects that the company will post earnings of $0.39 per share for the quarter, up from their previous forecast of $0.38. William Blair also issued estimates for Planet Fitness’ FY2021 earnings at $2.38 EPS.
A number of other brokerages also recently commented on PLNT. Zacks Investment Research downgraded shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 target price on the stock. in a research note on Wednesday, November 6th. Berenberg Bank downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating and dropped their price target for the stock from $80.00 to $69.00 in a research note on Tuesday, September 3rd. ValuEngine downgraded shares of Planet Fitness from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Roth Capital dropped their price target on shares of Planet Fitness from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Imperial Capital lifted their price target on shares of Planet Fitness from $72.50 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $77.46.
Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 7th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Planet Fitness had a net margin of 16.80% and a negative return on equity of 37.57%. The business had revenue of $166.82 million for the quarter, compared to the consensus estimate of $162.26 million. During the same quarter last year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its holdings in Planet Fitness by 157.1% during the 2nd quarter. Bank of Montreal Can now owns 486 shares of the company’s stock worth $35,000 after acquiring an additional 297 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Planet Fitness by 620.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 720 shares of the company’s stock worth $42,000 after acquiring an additional 620 shares in the last quarter. HM Payson & Co. acquired a new position in Planet Fitness during the 2nd quarter worth $47,000. Captrust Financial Advisors grew its holdings in Planet Fitness by 298.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,023 shares of the company’s stock worth $74,000 after acquiring an additional 766 shares in the last quarter. Finally, Usca Ria LLC acquired a new position in Planet Fitness during the 3rd quarter worth $93,000. 90.11% of the stock is currently owned by hedge funds and other institutional investors.
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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