Planet Fitness, Inc. (NYSE:PLNT – Get Rating) – William Blair Research analysts raised their third quarter 2022 earnings per share estimates for Planet Fitness shares in a note to investors Tuesday, August 2 . William Blair analyst S. Zackfia now expects the company to earn $0.43 per share for the quarter, up from its previous estimate of $0.37. Planet Fitness’ current annual earnings consensus estimate is $1.55 per share. William Blair also released Planet Fitness earnings estimates for the fourth quarter of 2022 at $0.38 EPS.
A number of other equity research analysts have also weighed in on PLNT recently. BNP Paribas upgraded Planet Fitness from an “underperforming” rating to a “neutral” rating and set a price target of $75.00 for the company in a Thursday, July 7 research note. Piper Sandler lowered her price target on Planet Fitness from $87.00 to $72.00 in a Wednesday, May 11 research note. Robert W. Baird lowered his price target on Planet Fitness from $108.00 to $92.00 in a Wednesday, May 11 research note. JPMorgan Chase & Co. downgraded Planet Fitness from a “neutral” rating to an “overweight” rating and set a target price of $90.00 on the stock in a Wednesday, May 11 research report. Finally, BMO Capital Markets reduced its target price on Planet Fitness from $96.00 to $88.00 in a Wednesday, May 11 research report. Four equity research analysts gave the stock a hold rating and eight gave the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.00.
Planet Fitness is trading down 1.1%
Shares of PLNT opened at $80.29 on Friday. The stock has a market capitalization of $7.31 billion, a price/earnings ratio of 125.46, a P/E/G ratio of 1.45 and a beta of 1.17. Planet Fitness has a 12-month minimum of $61.11 and a 12-month maximum of $99.60. The stock has a fifty-day simple moving average of $72.00 and a two-hundred-day simple moving average of $78.79.
Planet Fitness (NYSE:PLNT – Get Rating) last released its results on Tuesday, May 10. The company reported earnings per share of $0.32 for the quarter, beating the consensus estimate of $0.27 by $0.05. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The company posted revenue of $186.70 million in the quarter, compared to $190.44 million expected by analysts. During the same period of the previous year, the company achieved EPS of $0.10. The company’s revenue for the quarter increased by 66.8% compared to the same quarter last year.
Institutional entries and exits
A number of hedge funds have recently changed their holdings of PLNT. Commonwealth Equity Services LLC increased its holdings of Planet Fitness stock by 7.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,789 shares of the company valued at $433,000 after purchasing an additional 350 shares during the period. New Jersey State Joint Pension Fund D increased its stake in Planet Fitness stock by 0.3% in the fourth quarter. New Jersey State Joint Pension Fund D now owns 48,806 shares of the company worth $4,421,000 after buying 148 more shares in the last quarter. CWM LLC purchased a new equity stake in Planet Fitness in the fourth quarter worth approximately $56,000. Qube Research & Technologies Ltd increased its equity stake in Planet Fitness by 57.3% in the fourth quarter. Qube Research & Technologies Ltd now owns 36,163 shares in the company worth $3,276,000 after buying an additional 13,174 shares in the last quarter. Finally, Assenagon Asset Management SA purchased a new equity stake in Planet Fitness in the fourth quarter worth approximately $1,229,000. 93.87% of the shares are held by institutional investors and hedge funds.
Planet Fitness Company Profile
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Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Company-Owned Stores and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.
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