Planet Fitness (NYSE:PLNT) Releases Earnings Results, Beats Expectations By $0.07 EPS

Planet Fitness (NYSE:PLNT - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07, Briefing.com reports. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The company had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the previous year, the firm posted $0.59 EPS. The business's revenue was up 5.3% compared to the same quarter last year. Planet Fitness updated its FY 2024 guidance to 2.420-2.440 EPS.

Planet Fitness Trading Up 1.2 %

Shares of Planet Fitness stock traded up $1.14 during trading on Friday, reaching $95.31. The company's stock had a trading volume of 1,982,660 shares, compared to its average volume of 1,555,188. Planet Fitness has a one year low of $54.35 and a one year high of $98.59. The stock has a 50-day moving average price of $81.75 and a two-hundred day moving average price of $74.88. The stock has a market capitalization of $8.12 billion, a P/E ratio of 52.37, a price-to-earnings-growth ratio of 2.84 and a beta of 1.49.

Analysts Set New Price Targets

A number of brokerages have commented on PLNT. Roth Mkm raised their price objective on Planet Fitness from $73.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Planet Fitness from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday. Robert W. Baird lifted their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday. 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 note on Wednesday, October 16th. Finally, Macquarie reiterated a "neutral" rating and set a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research report on Friday. Five investment 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 stock. According to MarketBeat.com, Planet Fitness has a consensus rating of "Moderate Buy" and an average target price of $91.81.

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.