FY2024 EPS Estimates for Planet Fitness, Inc. were raised by Zacks Research (NYSE:PLNT)

VaselineAugust 30, 2024

0 4 minutes read

Planet Fitness, Inc. (NYSE:PLNT – Free Report) – Stock analysts at Zacks Research upped their FY2024 earnings estimates for Planet Fitness in a research report issued to clients and investors on Tuesday, August 27th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $2.43 for the year, up from their prior estimate of $2.40. The consensus estimate for Planet Fitness’ current full-year earnings is $2.43 per share. Zacks Research also issued estimates for Planet Fitness’ Q2 2025 earnings at $0.78 EPS, FY2025 earnings at $2.78, Q1 2026 earnings at $0.76, Q2 2026 earnings at $0.95 USD and USD 3.37 for FY2026.

Planet Fitness (NYSE:PLNT – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. In the same quarter last year, the company earned $0.65 per share.

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Several other research firms also recently weighed in on PLNT. Raymond James boosted their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 10th. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $100.00 in a research report from Monday, June 10. DA Davidson reiterated a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. JPMorgan Chase & Co. boosted their price objective on shares of Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.87.

Get the latest stock analysis on PLNT

Planet Fitness stock fell 0.6%

PLNT opened at $81.05 on Friday. Planet Fitness has a 12-month low of $44.13 and a 12-month high of $82.82. The company has a fifty day moving average of $76.17 and a 200 day moving average of $68.03. The stock has a market cap of $7.15 billion, a PE ratio of 46.58, a price-to-earnings-growth ratio of 2.65 and a beta of 1.49.

Institutional inputs and outputs

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Planet Fitness by 17.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock valued at $65,549,000 after buying an additional 133,541 shares in the last quarter. Broad Bay Capital Management LP lifted its position in shares of Planet Fitness by 15.4% during the fourth quarter. Broad Bay Capital Management LP now owns 1,223,000 shares of the company’s stock valued at $89,279,000 after buying an additional 163,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Planet Fitness by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock valued at $511,976,000 after purchasing an additional 97,823 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Planet Fitness by 24.9% in the first quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock valued at $14,335,000 after purchasing an additional 45,623 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Planet Fitness in the first quarter valued at about $1,786,000. 95.53% of shares are currently owned by institutional investors and hedge funds.

Indoor activity

In other news, CAO Brian O’donnell sold 6,424 shares of Planet Fitness stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction of $497,153.36. Following the completion of the transaction, the chief accounting officer now directly owns 6,778 shares in the company, valued at $524,549.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Corporate insiders own 5.94% of the company’s shares.

Planet Fitness Company Profile

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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 engaged in franchise business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.