Q1 2024 EPS Estimates for Planet Fitness, Inc. (NYSE:PLNT) Lifted by William Blair

Planet Fitness, Inc. (NYSE:PLNT) – Stock analysts at William Blair raised their Q1 2024 EPS estimates for shares of Planet Fitness in a research report issued on Monday, April 29th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of $0.47 for the quarter, up from their previous estimate of $0.46. The consensus estimate for Planet Fitness’ current full-year earnings is $2.48 per share. William Blair also issued estimates for Planet Fitness’ FY2024 earnings at $2.48 EPS.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada raised their price objective on shares of Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. DA Davidson reissued a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a research report on Monday, February 5th. Piper Sandler increased their price target on Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, January 11th. JPMorgan Chase & Co. dropped their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Finally, StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $71.00.

Planet Fitness Price Performance

NYSE PLNT opened at $58.66 on Thursday. The business’s fifty day moving average is $61.78 and its 200-day moving average is $65.02. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 1.95 and a beta of 1.37. Planet Fitness has a one year low of $44.13 and a one year high of $83.11.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. During the same period last year, the company posted $0.53 earnings per share. Planet Fitness’s quarterly revenue was up 1.4% compared to the same quarter last year.

Hedge Funds Weigh In On Planet Fitness

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Asset Management One Co. Ltd. increased its position in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after purchasing an additional 148 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Planet Fitness by 1.1% during the first quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock valued at $1,026,000 after acquiring an additional 174 shares during the last quarter. Amalgamated Bank raised its stake in shares of Planet Fitness by 0.3% during the fourth quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock worth $4,203,000 after acquiring an additional 179 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Planet Fitness by 2.8% in the 4th quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock worth $494,000 after acquiring an additional 182 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Planet Fitness by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock valued at $1,841,000 after buying an additional 190 shares during the period. Hedge funds and other 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.