Planet Fitness (PLNT) Set to Announce Quarterly Earnings on Thursday

Planet Fitness (NYSE:PLNT) will be posting its quarterly earnings results before the market opens on Thursday, November 7th. Analysts expect Planet Fitness to post earnings of $0.57 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $300.94 million for the quarter, compared to analyst estimates of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. Planet Fitness’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 earnings per share. On average, analysts expect Planet Fitness to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Planet Fitness Price Performance

NYSE:PLNT traded down $0.86 during trading hours on Tuesday, reaching $78.05. 30,349 shares of the company were exchanged, compared to its average volume of 1,523,413. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 43.36, a PEG ratio of 2.64 and a beta of 1.49. The stock has a 50 day simple moving average of $81.19 and a 200 day simple moving average of $74.17. Planet Fitness has a 52-week low of $54.05 and a 52-week high of $85.08.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PLNT shares. Stifel Nicolaus increased their price target on Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada boosted their price target on shares of Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. BMO Capital Markets restated an “outperform” rating and issued a $87.00 price target (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Piper Sandler boosted their price target on Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.93.

Insider Activity

In related news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total value of $497,153.36. Following the sale, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at $524,549.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.83% of the stock is currently owned by company 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.