FY2024 EPS Forecast for Planet Fitness Increased by Analyst

Planet Fitness, Inc. (NYSE:PLNT - Free Report) - Analysts at Zacks Research increased their FY2024 earnings per share estimates for Planet Fitness in a note issued to investors on Thursday, November 28th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $2.49 per share for the year, up from their previous estimate of $2.43. The consensus estimate for Planet Fitness' current full-year earnings is $2.50 per share. Zacks Research also issued estimates for Planet Fitness' Q4 2024 earnings at $0.61 EPS, Q1 2025 earnings at $0.64 EPS, Q3 2025 earnings at $0.71 EPS, Q4 2025 earnings at $0.77 EPS, FY2025 earnings at $2.90 EPS, Q1 2026 earnings at $0.73 EPS, Q2 2026 earnings at $0.93 EPS, Q3 2026 earnings at $0.83 EPS and FY2026 earnings at $3.40 EPS.

A number of other analysts also recently weighed in on PLNT. JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Stifel Nicolaus upped their target price on Planet Fitness from $70.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Roth Mkm raised their target price on Planet Fitness from $73.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Morgan Stanley boosted their price target on Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Planet Fitness in a research report on Friday, September 27th. They set a "hold" rating and a $71.00 price objective for the company. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.38.

Planet Fitness Price Performance

PLNT traded up $0.04 on Monday, hitting $99.59. 825,698 shares of the stock were exchanged, compared to its average volume of 1,518,742. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 53.52, a PEG ratio of 3.31 and a beta of 1.49. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $102.81. The business has a 50-day moving average of $86.75 and a two-hundred day moving average of $78.81.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same period in the prior year, the company posted $0.59 EPS. The company's revenue was up 5.3% compared to the same quarter last year.

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors have recently modified their holdings of the company. Quest Partners LLC boosted its position in shares of Planet Fitness by 126.0% during the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company's stock valued at $772,000 after purchasing an additional 5,298 shares in the last quarter. Premier Fund Managers Ltd acquired a new position in Planet Fitness in the third quarter valued at approximately $775,000. Qsemble Capital Management LP boosted its holdings in shares of Planet Fitness by 100.6% during the 3rd quarter. Qsemble Capital Management LP now owns 20,972 shares of the company's stock worth $1,703,000 after buying an additional 10,518 shares in the last quarter. Banco Santander S.A. acquired a new stake in shares of Planet Fitness during the 3rd quarter worth approximately $637,000. Finally, Fifth Third Bancorp grew its position in shares of Planet Fitness by 60.2% during the 2nd quarter. Fifth Third Bancorp now owns 191,903 shares of the company's stock worth $14,122,000 after buying an additional 72,131 shares during the period. 95.53% of the stock is owned by institutional investors.

Insider Activity at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the sale, the insider now owns 19,110 shares of the company's stock, valued at approximately $1,838,382. This represents a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.94% of the stock is currently owned by company insiders.

Planet Fitness Company Profile

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.