Planet Fitness FY2024 EPS Estimate Lifted by William Blair

Planet Fitness, Inc. (NYSE:PLNT) – Investment analysts at William Blair lifted their FY2024 earnings per share estimates for shares of Planet Fitness in a note issued to investors 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 estimate 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.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 7th. The company reported $0.64 EPS 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 for the quarter, compared to analyst estimates of $283.79 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Planet Fitness’s revenue for the quarter was up 5.3% on a year-over-year basis.

A number of other equities analysts have also weighed in on the company. Robert W. Baird lifted their price objective on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday. Stifel Nicolaus upped their price objective on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $87.00 target price (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Macquarie reissued a “neutral” rating and set a $99.00 price target (up from $91.00) on shares of Planet Fitness in a report on Friday. Finally, Bank of America lifted their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $91.81.

Planet Fitness Price Performance

NYSE:PLNT opened at $95.19 on Monday. The company’s fifty day moving average price is $82.03 and its 200-day moving average price is $75.22. Planet Fitness has a 1-year low of $54.35 and a 1-year high of $98.59. The firm has a market capitalization of $8.11 billion, a P/E ratio of 51.18, a PEG ratio of 3.18 and a beta of 1.49.

Institutional Trading of Planet Fitness

Several large investors have recently added to or reduced their stakes in PLNT. Vanguard Group Inc. lifted its holdings in shares of Planet Fitness by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after acquiring an additional 97,823 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Planet Fitness by 24.9% during the 1st quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock valued at $14,335,000 after acquiring an additional 45,623 shares during the period. Picton Mahoney Asset Management acquired a new position in Planet Fitness in the 1st quarter valued at about $1,786,000. State Board of Administration of Florida Retirement System increased its stake in Planet Fitness by 4.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 92,400 shares of the company’s stock worth $5,787,000 after purchasing an additional 3,860 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Planet Fitness by 228.8% during the first quarter. BNP Paribas Financial Markets now owns 23,069 shares of the company’s stock worth $1,445,000 after purchasing an additional 16,053 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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.