Planet Fitness, Inc. (NYSE: PLNT) is expected to post quarterly sales of $ 173.94 million

Equity research analysts predict Planet Fitness, Inc. (NYSE: PLNT) will bring in $ 173.94 million in sales for the current fiscal quarter, according to Zacks investment research. Seven analysts have estimated the earnings of Planet Fitness. The lowest sales estimate is $ 170.10 million and the highest is $ 177.50 million. Planet Fitness recorded sales of $ 133.77 million in the same quarter of last year, indicating a positive growth rate of 30% year-over-year. The company is expected to release its next quarterly earnings report on Thursday, February 17.

According to Zacks, analysts expect Planet Fitness to report annual sales of $ 577.18 million for the current fiscal year, with estimates ranging from $ 573.50 million to $ 580.90 million. For the next fiscal year, analysts expect the company to report revenue of $ 770.67 million, with estimates ranging from $ 728.57 million to $ 812.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts who cover Planet Fitness.

Planet Fitness (NYSE: PLNT) last released its results on Thursday, November 4. The company reported earnings per share (EPS) of $ 0.25 for the quarter, beating the consensus estimate of $ 0.17 by $ 0.08. Planet Fitness had a net margin of 8.51% and a negative return on equity of 9.30%. The company posted revenue of $ 154.30 million in the quarter, compared to analysts’ expectations of $ 134.79 million. In the same quarter of the previous year, the company posted EPS of $ 0.02. The company’s revenue for the quarter increased 46.4% year-over-year.

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The PLNT has been the subject of several research reports. Morgan Stanley raised its price target for Planet Fitness shares from $ 93.00 to $ 101.00 and assigned the company an “overweight” rating in a research report released on Friday, November 5. TheStreet took Planet Fitness’s stock from a “c” rating to a “b-” rating in a research report released on Thursday, November 4. Jefferies Financial Group raised its price target for Planet Fitness shares from $ 100.00 to $ 115 and gave the company a “buy” rating in a research report released on Friday, November 5. DA Davidson raised his price target for Planet Fitness shares from $ 85 to $ 105 and gave the company a “buy” rating in a research report on Friday, November 5. Finally, Robert W. Baird raised his Planet Fitness stock price target from $ 100.00 to $ 110.00 and gave the company an “outperformance” rating in a research report released on Friday, November 5th. . They noted that the move was an appraisal call. Four research analysts rated the stock with a conservation rating and eight gave the company a buy rating. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Buy” and an average price target of $ 94.92.

PLNT stock opened at $ 87.91 on Friday. The company has a fifty-day moving average price of $ 84.90 and a 200-day moving average price of $ 79.20. Planet Fitness has a 12 month low of $ 67.89 and a 12 month high of $ 99.60. The company has a market cap of $ 7.61 billion, a price-to-earnings ratio of 156.98 and a beta of 1.20.

In other news, CEO Christophe Rondeau sold 150,000 shares in a transaction dated Monday, November 8. The shares were sold for an average price of $ 96.07, for a total value of $ 14,410,500.00. The sale was disclosed in a file with the Securities & Exchange Commission, which can be accessed via this link. Company insiders own 6.41% of the company’s shares.

Institutional investors and hedge funds have recently changed their positions in the company. Soroban Capital Partners LP increased its stake in Planet Fitness by 938.3% in the 3rd quarter. Soroban Capital Partners LP now owns 3,196,044 shares of the company valued at $ 251,049,000 after acquiring an additional 2,888,217 shares during the last quarter. Amundi took a new stake in Planet Fitness in the second quarter for a value of approximately $ 94,092,000. Bank of New York Mellon Corp increased its stake in Planet Fitness by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,010,066 shares of the company valued at $ 226,507,000 after acquiring an additional 1,022,384 shares in the last quarter. Two Sigma Advisers LP increased its stake in Planet Fitness by 409.4% in the 3rd quarter. Two Sigma Advisers LP now owns 756,000 shares of the company valued at $ 59,384,000 after acquiring an additional 607,600 shares during the last quarter. Finally, Bares Capital Management Inc. acquired a new stake in Planet Fitness in the second quarter for a value of approximately $ 41,675,000. Institutional investors and hedge funds hold 97.17% of the company’s shares.

About Planet Fitness

Planet Fitness, Inc is engaged in the operation and franchise of fitness centers. It operates in the following segments: franchise, company-owned stores and equipment. The Franchise segment includes operations related to the Company’s franchising activities in the United States, Puerto Rico, Canada, Dominican Republic, Panama, Mexico and Australia.

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Planet Fitness Profit History and Estimates (NYSE: PLNT)

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