Planet Fitness, Inc. (NYSE:PLNT - Free Report) - William Blair lifted their FY2024 earnings estimates for shares of Planet Fitness in a research note issued on Thursday, November 7th. William Blair analyst S. Zackfia now anticipates that the company will post earnings of $2.50 per share for the year, up from their prior forecast of $2.44. The consensus estimate for Planet Fitness' current full-year earnings is $2.47 per share. William Blair also issued estimates for Planet Fitness' FY2025 earnings at $2.86 EPS.
Other analysts also recently issued reports about the stock. Stifel Nicolaus boosted their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Royal Bank of Canada boosted their price target on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday. Robert W. Baird upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday. Raymond James upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company a "strong-buy" rating in a research note on Friday. Finally, Macquarie reaffirmed a "neutral" rating and set a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research note on Friday. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.81.
View Our Latest Research Report on Planet Fitness
Planet Fitness Stock Down 0.1 %
NYSE:PLNT traded down $0.12 during midday trading on Monday, hitting $95.19. The company had a trading volume of 1,448,028 shares, compared to its average volume of 1,554,702. Planet Fitness has a 52-week low of $54.35 and a 52-week high of $98.59. The stock's fifty day moving average price is $81.75 and its 200-day moving average price is $74.97. The company has a market capitalization of $8.11 billion, a PE ratio of 51.24, a P/E/G ratio of 3.18 and a beta of 1.49.
Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same period in the previous year, the business earned $0.59 earnings per share. The firm's quarterly revenue was up 5.3% compared to the same quarter last year.
Institutional Investors Weigh In On Planet Fitness
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Planet Fitness by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company's stock worth $511,976,000 after purchasing an additional 97,823 shares during the period. Dorsal Capital Management LP grew its holdings in Planet Fitness by 7.7% in the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company's stock worth $213,940,000 after purchasing an additional 207,193 shares during the period. William Blair Investment Management LLC purchased a new stake in Planet Fitness in the second quarter worth about $166,978,000. Price T Rowe Associates Inc. MD grew its holdings in Planet Fitness by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company's stock worth $116,453,000 after purchasing an additional 483,586 shares during the period. Finally, Anomaly Capital Management LP purchased a new stake in Planet Fitness in the second quarter worth about $106,795,000. Hedge funds and other institutional investors own 95.53% of the company's stock.
About Planet Fitness
(
Get Free Report)
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.
Further Reading
Before you consider Planet Fitness, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Planet Fitness wasn't on the list.
While Planet Fitness currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
