William Blair Predicts Stronger Earnings for Planet Fitness

Planet Fitness, Inc. (NYSE:PLNT) – Investment analysts at William Blair lifted their FY2024 earnings per share estimates for Planet Fitness in a research note issued to investors on Thursday, November 7th. William Blair analyst S. Zackfia now anticipates that the company will earn $2.50 per share for the year, up from their previous forecast 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 announced its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS.

A number of other brokerages have also recently commented on PLNT. BNP Paribas raised Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target on the stock in a research note on Thursday, September 5th. Royal Bank of Canada lifted their target price on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Macquarie reiterated a “neutral” rating and set a $99.00 price target (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Morgan Stanley raised their price target on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, Robert W. Baird upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Five 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.81.

Planet Fitness Trading Down 0.5 %

PLNT opened at $94.70 on Monday. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $98.59. The business’s 50-day moving average price is $82.33 and its 200-day moving average price is $75.47. The company has a market cap of $8.07 billion, a P/E ratio of 50.91, a P/E/G ratio of 3.18 and a beta of 1.49.

Hedge Funds Weigh In On Planet Fitness

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in shares of Planet Fitness by 151,050.0% in the 3rd quarter. Larson Financial Group LLC now owns 3,023 shares of the company’s stock worth $246,000 after buying an additional 3,021 shares during the period. Banco Santander S.A. purchased a new stake in Planet Fitness in the third quarter worth about $637,000. Hilton Capital Management LLC bought a new position in shares of Planet Fitness during the third quarter valued at approximately $1,688,000. Premier Fund Managers Ltd bought a new position in shares of Planet Fitness during the third quarter valued at approximately $775,000. Finally, Quest Partners LLC lifted its holdings in shares of Planet Fitness by 126.0% during the third quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock valued at $772,000 after purchasing an additional 5,298 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

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.