Analysts Issue Forecasts for Planet Fitness FY2024 Earnings

Planet Fitness, Inc. (NYSE:PLNT) – Analysts at Zacks Research boosted their FY2024 EPS estimates for shares of Planet Fitness in a research report issued on Thursday, November 28th. Zacks Research analyst R. Department now expects that the company will post earnings of $2.49 per share for the year, up from their prior forecast of $2.43. The consensus estimate for Planet Fitness’ current full-year earnings is $2.50 per share. Zacks Research also issued estimates for Planet Fitness’ Q4 2024 earnings at $0.61 EPS, Q1 2025 earnings at $0.64 EPS, Q3 2025 earnings at $0.71 EPS, Q4 2025 earnings at $0.77 EPS, FY2025 earnings at $2.90 EPS, Q1 2026 earnings at $0.73 EPS, Q2 2026 earnings at $0.93 EPS, Q3 2026 earnings at $0.83 EPS and FY2026 earnings at $3.40 EPS.

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

Several other brokerages also recently weighed in on PLNT. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price on the stock in a research note on Thursday, September 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 price objective (up from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Raymond James boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Robert W. Baird lifted their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.38.

Planet Fitness Stock Up 0.0 %

Shares of PLNT stock opened at $99.59 on Monday. The stock’s 50-day moving average price is $86.75 and its 200 day moving average price is $78.81. The stock has a market capitalization of $8.42 billion, a PE ratio of 53.52, a price-to-earnings-growth ratio of 3.31 and a beta of 1.49. Planet Fitness has a 52-week low of $54.35 and a 52-week high of $102.81.

Insider Buying and Selling

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.94% of the company’s stock.

Institutional Trading of Planet Fitness

Several large investors have recently modified their holdings of PLNT. GAMMA Investing LLC boosted its stake in shares of Planet Fitness by 478.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after acquiring an additional 316 shares during the last quarter. LRI Investments LLC boosted its stake in shares of Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares during the last quarter. Quarry LP grew its holdings in shares of Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares in the last quarter. Finally, Dnca Finance acquired a new position in shares of Planet Fitness in the second quarter valued at approximately $82,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.