Planet Fitness (PLNT) to Release Earnings on Thursday

Planet Fitness (NYSE:PLNT) will be issuing its quarterly earnings data before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Planet Fitness has set its FY 2024 guidance at 2.460-2.490 EPS and its FY24 guidance at $2.46-2.49 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. Planet Fitness’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. On average, analysts expect Planet Fitness to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Planet Fitness Price Performance

PLNT stock opened at $62.02 on Wednesday. The business’s 50-day moving average is $61.44 and its two-hundred day moving average is $65.24. The firm has a market capitalization of $5.47 billion, a P/E ratio of 38.28, a P/E/G ratio of 1.93 and a beta of 1.37. Planet Fitness has a 1 year low of $44.13 and a 1 year high of $75.86.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Morgan Stanley reiterated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research note on Monday, April 1st. Piper Sandler raised their price target on Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, January 11th. JPMorgan Chase & Co. lowered their price objective on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. Finally, Royal Bank of Canada raised their target price on Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $70.21.

About Planet Fitness

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