Planet Fitness (PLNT) Scheduled to Post Earnings on Thursday

Planet Fitness (NYSE:PLNT - Get Free Report) will be announcing its earnings results before the market opens on Thursday, November 7th. Analysts expect Planet Fitness to post earnings of $0.57 per share for the quarter. Planet Fitness has set its FY 2024 guidance at 2.400-2.440 EPS.Investors that are interested in registering for the company's conference call can do so using this link.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The business had revenue of $300.94 million during the quarter, compared to analysts' expectations of $290.17 million. During the same period last year, the business earned $0.65 earnings per share. The firm's revenue was up 5.1% on a year-over-year basis. 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

NYSE PLNT traded up $0.50 on Thursday, hitting $79.00. 328,266 shares of the stock were exchanged, compared to its average volume of 1,535,336. The business's fifty day moving average is $81.32 and its 200 day moving average is $73.69. Planet Fitness has a 52 week low of $53.31 and a 52 week high of $85.08. The company has a market capitalization of $6.97 billion, a PE ratio of 45.11, a P/E/G ratio of 2.74 and a beta of 1.49.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLNT. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Planet Fitness in a research note on Friday, September 27th. They issued a "hold" rating and a $71.00 target price for the company. Robert W. Baird reiterated an "outperform" rating and set a $92.00 target price on shares of Planet Fitness in a research note on Monday, August 26th. Piper Sandler increased their price target on Planet Fitness from $80.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, July 11th. Stifel Nicolaus increased their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their price target on Planet Fitness from $77.00 to $87.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $85.93.

Insider Buying and Selling at Planet Fitness

In related news, CAO Brian O'donnell sold 6,424 shares of the business's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total value of $497,153.36. Following the sale, the chief accounting officer now owns 6,778 shares of the company's stock, valued at $524,549.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.94% of the company's stock.

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.