Planet Fitness, Inc. (NYSE:PLNT – Get Rating) – Analysts at DA Davidson issued their Q1 2023 EPS estimates for Planet Fitness in a research note issued to investors on Friday, February 24th. DA Davidson analyst L. Weiser anticipates that the company will earn $0.40 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $87.00 target price on the stock. The consensus estimate for Planet Fitness’ current full-year earnings is $2.20 per share. DA Davidson also issued estimates for Planet Fitness’ FY2023 earnings at $2.20 EPS and FY2024 earnings at $2.65 EPS.
PLNT has been the subject of several other research reports. Cowen increased their price objective on shares of Planet Fitness from $80.00 to $90.00 in a research report on Wednesday, November 16th. Cowen raised their price target on shares of Planet Fitness from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, November 16th. Stifel Nicolaus raised their price target on shares of Planet Fitness from $82.00 to $93.00 and gave the company a “buy” rating in a report on Friday, January 13th. Raymond James raised their price target on shares of Planet Fitness from $92.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday. Finally, Morgan Stanley raised their price target on shares of Planet Fitness from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Tuesday, January 31st. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.46.
Planet Fitness stock opened at $80.60 on Monday. Planet Fitness has a 52-week low of $54.15 and a 52-week high of $90.76. The firm has a fifty day moving average of $80.72 and a 200-day moving average of $72.86. The firm has a market capitalization of $7.22 billion, a P/E ratio of 68.89, a PEG ratio of 1.24 and a beta of 1.26.
Planet Fitness (NYSE:PLNT – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.06. Planet Fitness had a net margin of 10.61% and a negative return on equity of 64.13%. The company had revenue of $281.30 million during the quarter, compared to analyst estimates of $271.48 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up 53.2% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in PLNT. PNC Financial Services Group Inc. boosted its stake in Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after acquiring an additional 157 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Planet Fitness by 801.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock worth $155,000 after buying an additional 1,635 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Planet Fitness in the 1st quarter worth about $357,000. BlackRock Inc. lifted its position in shares of Planet Fitness by 34.8% in the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after buying an additional 1,852,867 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Planet Fitness in the 1st quarter worth about $919,000. 94.56% of the stock is currently owned by institutional investors.
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.
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