Equities research analysts predict that Planet Fitness Inc (NYSE:PLNT) will announce $131.57 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Planet Fitness’ earnings, with the lowest sales estimate coming in at $127.60 million and the highest estimate coming in at $133.79 million. Planet Fitness reported sales of $116.42 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13%. The firm is expected to report its next quarterly earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that Planet Fitness will report full year sales of $131.57 million for the current financial year, with estimates ranging from $424.00 million to $429.71 million. For the next financial year, analysts expect that the company will post sales of $475.15 million per share, with estimates ranging from $461.00 million to $489.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Planet Fitness.
Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, November 7th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $97.50 million during the quarter, compared to analyst estimates of $93.55 million. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share.
PLNT has been the subject of a number of recent research reports. BidaskClub upgraded Planet Fitness from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Robert W. Baird reiterated an “outperform” rating and set a $31.00 price objective (up from $28.00) on shares of Planet Fitness in a research note on Wednesday, October 4th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Wednesday, October 11th. Jefferies Group reiterated a “buy” rating and set a $29.00 price objective on shares of Planet Fitness in a research note on Thursday, October 19th. Finally, Bank of America increased their price objective on Planet Fitness from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $32.88.
In related news, CAO Richard L. Moore sold 1,640 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $27.00, for a total value of $44,280.00. Following the transaction, the chief accounting officer now owns 1,640 shares in the company, valued at $44,280. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher Rondeau sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $25.87, for a total value of $517,400.00. The disclosure for this sale can be found here. Insiders have sold 1,134,427 shares of company stock worth $34,941,422 in the last 90 days. Company insiders own 19.87% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. boosted its holdings in Planet Fitness by 2.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 407,162 shares of the company’s stock valued at $14,101,000 after acquiring an additional 8,608 shares during the last quarter. Bank of Montreal Can bought a new position in Planet Fitness in the fourth quarter valued at about $104,000. Sheets Smith Wealth Management bought a new position in Planet Fitness during the fourth quarter worth about $364,000. KAMES CAPITAL plc bought a new position in Planet Fitness during the fourth quarter worth about $1,339,000. Finally, GSA Capital Partners LLP boosted its holdings in Planet Fitness by 11.7% during the third quarter. GSA Capital Partners LLP now owns 44,555 shares of the company’s stock worth $1,202,000 after buying an additional 4,655 shares during the last quarter.
Shares of Planet Fitness (NYSE:PLNT) traded down $0.49 during midday trading on Wednesday, hitting $31.88. The company had a trading volume of 1,179,100 shares, compared to its average volume of 1,388,210. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of -5.00. The firm has a market capitalization of $3,200.00 and a price-to-earnings ratio of 47.58. Planet Fitness has a twelve month low of $18.32 and a twelve month high of $35.03.
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Planet Fitness Company Profile
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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