Planet Fitness, Inc. Expected to Earn FY2021 Earnings of $0.79 Per Share (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT) – Analysts at DA Davidson raised their FY2021 earnings per share (EPS) estimates for shares of Planet Fitness in a research note issued to investors on Wednesday, January 12th. DA Davidson analyst L. Weiser now anticipates that the company will post earnings of $0.79 per share for the year, up from their prior forecast of $0.78. DA Davidson has a “Buy” rating and a $110.00 price target on the stock. DA Davidson also issued estimates for Planet Fitness’ Q4 2021 earnings at $0.22 EPS and FY2022 earnings at $1.65 EPS.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 4th. The company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.08. The firm had revenue of $154.30 million for the quarter, compared to analysts’ expectations of $134.79 million. Planet Fitness had a net margin of 8.51% and a negative return on equity of 9.30%. The business’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share.

PLNT has been the topic of several other reports. JPMorgan Chase & Co. increased their target price on shares of Planet Fitness from $88.00 to $90.00 in a report on Friday. Roth Capital increased their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, November 8th. BMO Capital Markets increased their target price on shares of Planet Fitness from $80.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, November 15th. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “strong-buy” rating and set a $98.00 target price on the stock in a report on Tuesday, December 28th. Finally, Cowen upgraded shares of Planet Fitness to a “hold” rating and increased their target price for the stock from $100.00 to $110.00 in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $100.17.

Shares of Planet Fitness stock opened at $86.78 on Thursday. Planet Fitness has a 1 year low of $67.89 and a 1 year high of $99.60. The firm’s 50-day moving average is $88.66 and its two-hundred day moving average is $81.32. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 154.96, a PEG ratio of 2.79 and a beta of 1.21.

In other news, CEO Christopher Rondeau sold 150,000 shares of Planet Fitness stock in a transaction on Monday, November 8th. The stock was sold at an average price of $96.07, for a total transaction of $14,410,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.41% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Liberty Wealth Management LLC increased its stake in Planet Fitness by 388.6% during the third quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock worth $29,000 after purchasing an additional 272 shares during the period. Pinnacle Holdings LLC purchased a new stake in Planet Fitness during the third quarter worth about $30,000. Manchester Capital Management LLC purchased a new stake in Planet Fitness during the third quarter worth about $35,000. Berman Capital Advisors LLC increased its stake in Planet Fitness by 291.9% during the third quarter. Berman Capital Advisors LLC now owns 482 shares of the company’s stock worth $37,000 after purchasing an additional 359 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in Planet Fitness during the second quarter worth about $36,000. Hedge funds and other institutional investors own 96.38% of the company’s stock.

About Planet Fitness

Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following 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, Canada, the Dominican Republic, Panama, Mexico, and Australia.

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Earnings History and Estimates for Planet Fitness (NYSE:PLNT)

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