FY2024 EPS Estimates for Planet Fitness Boosted by Analyst

Planet Fitness, Inc. (NYSE:PLNT) – Analysts at DA Davidson increased their FY2024 EPS estimates for shares of Planet Fitness in a report issued on Monday, December 2nd. DA Davidson analyst L. Weiser now anticipates that the company will post earnings of $2.48 per share for the year, up from their previous estimate of $2.45. DA Davidson has a “Neutral” rating and a $87.00 price objective on the stock. The consensus estimate for Planet Fitness’ current full-year earnings is $2.50 per share. DA Davidson also issued estimates for Planet Fitness’ Q4 2024 earnings at $0.60 EPS.

Planet Fitness (NYSE:PLNT) last released its earnings results 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. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. Planet Fitness’s quarterly revenue was up 5.3% on a year-over-year basis.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 target price for the company. Bank of America upped their target price 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. Raymond James lifted their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Royal Bank of Canada upped their price objective on Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus lifted their target price on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Five 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.38.

Planet Fitness Stock Down 0.2 %

NYSE:PLNT opened at $99.39 on Tuesday. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $102.81. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 53.44, a price-to-earnings-growth ratio of 3.31 and a beta of 1.53. The stock’s 50 day moving average price is $87.11 and its two-hundred day moving average price is $79.05.

Insider Activity at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the transaction, the insider now owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Planet Fitness

A number of institutional investors have recently modified their holdings of PLNT. Tidal Investments LLC raised its position in shares of Planet Fitness by 132.5% in the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock valued at $2,352,000 after buying an additional 16,503 shares in the last quarter. M&T Bank Corp increased its stake in Planet Fitness by 2.6% in the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock valued at $402,000 after acquiring an additional 124 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Planet Fitness during the third quarter valued at approximately $604,000. iSAM Funds UK Ltd acquired a new position in Planet Fitness during the third quarter valued at approximately $312,000. Finally, State Street Corp lifted its stake in Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after purchasing an additional 37,236 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

About Planet Fitness

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.