Planet Fitness, Inc. (NYSE:PLNT) Expected to Post Quarterly Sales of $135.22 Million

Equities analysts expect that Planet Fitness, Inc. (NYSE:PLNT) will post sales of $135.22 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Planet Fitness’ earnings. The lowest sales estimate is $126.90 million and the highest is $142.50 million. Planet Fitness reported sales of $105.38 million in the same quarter last year, which indicates a positive year-over-year growth rate of 28.3%. The business is scheduled to issue its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Planet Fitness will report full year sales of $539.69 million for the current financial year, with estimates ranging from $534.20 million to $544.20 million. For the next financial year, analysts anticipate that the business will post sales of $736.36 million, with estimates ranging from $688.00 million to $761.90 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 released its earnings results on Monday, August 9th. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.02). Planet Fitness had a net margin of 5.15% and a negative return on equity of 6.18%. The firm had revenue of $137.25 million during the quarter, compared to analyst estimates of $127.56 million. During the same period last year, the business posted ($0.32) earnings per share. The firm’s quarterly revenue was up 241.1% on a year-over-year basis.

Several research analysts have recently issued reports on the company. Stifel Nicolaus upgraded Planet Fitness from a “hold” rating to a “buy” rating and raised their price target for the stock from $82.00 to $85.00 in a research report on Tuesday, August 3rd. Roth Capital upgraded Planet Fitness from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, August 16th. Jefferies Financial Group began coverage on Planet Fitness in a report on Friday, July 23rd. They set a “buy” rating and a $100.00 target price on the stock. Zacks Investment Research upgraded Planet Fitness from a “sell” rating to a “hold” rating and set a $78.00 target price on the stock in a report on Tuesday, August 10th. Finally, Morgan Stanley began coverage on Planet Fitness in a report on Tuesday, August 24th. They set an “overweight” rating and a $93.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.57.

In other Planet Fitness news, CFO Thomas J. Fitzgerald III purchased 1,000 shares of the stock in a transaction on Thursday, August 19th. The shares were purchased at an average price of $69.29 per share, with a total value of $69,290.00. Following the completion of the transaction, the chief financial officer now directly owns 8,194 shares in the company, valued at $567,762.26. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Dorvin D. Lively sold 48,467 shares of the business’s stock in a transaction that occurred on Thursday, August 26th. The stock was sold at an average price of $79.79, for a total value of $3,867,181.93. The disclosure for this sale can be found here. Insiders own 6.41% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PLNT. IFP Advisors Inc increased its position in Planet Fitness by 82.0% during the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $25,000 after buying an additional 146 shares during the last quarter. IndexIQ Advisors LLC acquired a new position in Planet Fitness during the first quarter worth approximately $28,000. Penserra Capital Management LLC bought a new stake in shares of Planet Fitness during the second quarter worth approximately $36,000. Strategic Blueprint LLC bought a new stake in shares of Planet Fitness during the second quarter worth approximately $40,000. Finally, Eaton Vance Management bought a new stake in shares of Planet Fitness during the first quarter worth approximately $43,000. 97.17% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:PLNT opened at $81.48 on Friday. Planet Fitness has a 12-month low of $57.90 and a 12-month high of $90.34. The firm has a market capitalization of $7.06 billion, a P/E ratio of 262.84, a P/E/G ratio of 5.40 and a beta of 1.25. The stock’s fifty day simple moving average is $76.26 and its 200-day simple moving average is $77.85.

About Planet Fitness

Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.

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