Planet Fitness (NYSE:PLNT) Issues FY 2024 Earnings Guidance

Planet Fitness (NYSE:PLNT) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.420-2.440 for the period, compared to the consensus EPS estimate of 2.440. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.1 billion.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLNT. BNP Paribas raised Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target on the stock in a research note on Thursday, September 5th. Royal Bank of Canada increased their price target on Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Bank of America upped their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a research report on Friday, September 27th. They issued a “hold” rating and a $71.00 price objective for the company. Finally, Piper Sandler upped their price objective on shares of Planet Fitness from $80.00 to $89.00 and gave the company 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.93.

Planet Fitness Trading Up 13.2 %

Shares of PLNT traded up $11.16 on Thursday, reaching $95.81. The company’s stock had a trading volume of 1,307,471 shares, compared to its average volume of 1,534,183. The stock has a market capitalization of $8.16 billion, a PE ratio of 53.81, a PEG ratio of 2.64 and a beta of 1.49. Planet Fitness has a twelve month low of $54.35 and a twelve month high of $98.59. The firm has a fifty day moving average of $81.21 and a 200-day moving average of $74.39.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. As a group, equities analysts anticipate that Planet Fitness will post 2.43 EPS for the current fiscal year.

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.