Imperial Capital Equities Analysts Lift Earnings Estimates for Planet Fitness Inc (NYSE:PLNT)

Planet Fitness Inc (NYSE:PLNT) – Imperial Capital upped their FY2019 earnings estimates for Planet Fitness in a report released on Friday, August 9th. Imperial Capital analyst G. Kelly now anticipates that the company will post earnings per share of $1.55 for the year, up from their prior estimate of $1.53. Imperial Capital currently has a “In-Line” rating and a $72.50 price objective on the stock. Imperial Capital also issued estimates for Planet Fitness’ Q4 2019 earnings at $0.41 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.53 EPS, Q3 2020 earnings at $0.40 EPS, Q4 2020 earnings at $0.58 EPS and FY2020 earnings at $1.84 EPS.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The business had revenue of $181.66 million during the quarter, compared to analysts’ expectations of $167.91 million. Planet Fitness had a negative return on equity of 47.77% and a net margin of 16.29%. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period last year, the firm posted $0.34 EPS.

PLNT has been the subject of several other reports. Zacks Investment Research cut Planet Fitness from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Bank of America reissued a “buy” rating and set a $86.00 price target (up from $72.00) on shares of Planet Fitness in a report on Wednesday, May 1st. Robert W. Baird reaffirmed an “outperform” rating and issued a $80.00 price objective (up from $75.00) on shares of Planet Fitness in a report on Monday, April 29th. Jefferies Financial Group lifted their price objective on Planet Fitness from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Roth Capital lifted their price objective on Planet Fitness from $80.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $76.12.

NYSE:PLNT opened at $72.63 on Monday. The firm has a market cap of $6.87 billion, a PE ratio of 59.53, a P/E/G ratio of 2.16 and a beta of 0.59. The business’s 50 day moving average price is $75.69. Planet Fitness has a 1-year low of $44.97 and a 1-year high of $81.90.

A number of hedge funds and other institutional investors have recently made changes to their positions in PLNT. Bank of Montreal Can increased its stake in shares of Planet Fitness by 157.1% in the 2nd quarter. Bank of Montreal Can now owns 486 shares of the company’s stock valued at $35,000 after purchasing an additional 297 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Planet Fitness by 4,557.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 652 shares of the company’s stock valued at $45,000 after purchasing an additional 638 shares during the last quarter. Synovus Financial Corp increased its stake in shares of Planet Fitness by 228.3% in the 1st quarter. Synovus Financial Corp now owns 719 shares of the company’s stock valued at $49,000 after purchasing an additional 500 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Planet Fitness in the 1st quarter valued at $73,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Planet Fitness by 88.8% in the 1st quarter. Meeder Asset Management Inc. now owns 1,076 shares of the company’s stock valued at $74,000 after purchasing an additional 506 shares during the last quarter. 93.17% of the stock is owned by hedge funds and other institutional investors.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Earnings History and Estimates for Planet Fitness (NYSE:PLNT)

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