Zacks Research Lifts Earnings Estimates for Planet Fitness

Planet Fitness, Inc. (NYSE:PLNT) – Analysts at Zacks Research boosted their FY2024 earnings estimates for Planet Fitness in a report issued on Thursday, November 28th. Zacks Research analyst R. Department now expects that the company will earn $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 released its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. During the same period last year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis.

Other analysts have also issued research reports about the company. DA Davidson boosted their price target on Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a report on Friday. BMO Capital Markets reissued an “outperform” rating and set a $87.00 price target (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Morgan Stanley boosted their price objective on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Macquarie reiterated a “neutral” rating and set a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a report on Friday, September 27th. They issued a “hold” rating and a $71.00 price target on the stock. Five research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.38.

Planet Fitness Stock Down 1.5 %

Planet Fitness stock opened at $99.55 on Monday. Planet Fitness has a 52-week low of $54.35 and a 52-week high of $102.81. The company has a market cap of $8.42 billion, a P/E ratio of 53.52, a P/E/G ratio of 3.31 and a beta of 1.49. The business has a 50-day simple moving average of $86.75 and a two-hundred day simple moving average of $78.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after acquiring an additional 316 shares in the last quarter. LRI Investments LLC increased its position in shares of Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares in the last quarter. Quarry LP lifted its holdings in shares of Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 318 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Planet Fitness by 69.8% in 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 in the last quarter. Finally, Dnca Finance purchased a new position in Planet Fitness during the 2nd quarter worth $82,000. 95.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the sale, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.94% of the stock is currently owned by corporate insiders.

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.