Planet Fitness, Inc. (NYSE: PLNT – FREE REPORT) – William Blair research analysts lowered their estimates for Planet Fitness’ second quarter 2024 earnings per share (EPS) in a research report issued to clients and investors on Thursday, July 25th. William Blair analyst S. Zachfia now expects the company to earn $0.65 per share for the quarter, down from his previous estimate of $0.67. The current consensus estimate for Planet Fitness’ full year earnings is $2.43 per share. William Blair also expects Planet Fitness’ third quarter 2024 earnings to be $0.62 EPS and fourth quarter 2024 earnings to be $0.64 EPS.
Planet Fitness (NYSE:PLNT – get free report ) last released its quarterly earnings data on Thursday, May 9th. The company reported EPS of $0.53 for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a return on equity of -140.14%. The company’s revenue for the quarter was $248 million, beating analyst estimates of $249.48 million. In the same quarter last year, the company reported EPS of $0.41. The company’s revenue grew 11.6% year over year.
Other analysts have also issued research reports on the stock. Stifel Nicolaus downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating and lowered their price target for the company from $80.00 to $70.00 in a research note on Friday, May 10th. Stocknews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Jefferies Financial Group raised Planet Fitness from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $100.00 in a research note on Monday, June 10th. Morgan Stanley reaffirmed their “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Friday, June 14th. Finally, Royal Bank lowered their price target on Planet Fitness from $80.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating, and one has given a strong buy rating. According to MarketBeat.com, Planet Fitness currently has an average rating of a “moderate buy” and a consensus price target of $77.64.
Check out Planet Fitness’ latest report
Planet Fitness Price Performance
PLNT shares opened trading at $74.99 on Friday. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 43.10, a price-to-earnings ratio of 2.53 and a beta of 1.49. The company’s 50-day moving average is $70.90 and its 200-day moving average is $66.93. Planet Fitness’s 52-week low is $44.13 and its 52-week high is $79.09.
Institutional investor inflows and outflows
A number of large investors recently modified their holdings in the company. Verdence Capital Advisors LLC acquired a new stake in Planet Fitness in the second quarter, valued at approximately $215,000. LRI Investments LLC increased its holdings in Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock, valued at $30,000, after purchasing an additional 153 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Planet Fitness by 0.7% in the second quarter. Retirement Systems of Alabama now owns 108,032 shares of the company’s stock, valued at $7,950,000, after acquiring an additional 743 shares during the period. Louisiana State Employees Retirement System increased its holdings in Planet Fitness by 0.8% in the second quarter. Louisiana State Employees Retirement System acquired an additional 200 shares during the period and now owns 24,800 shares of the company’s stock valued at $1,825,000.Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Planet Fitness in the second quarter valued at about $266,000.95.53% of the stock is now owned by institutional investors and hedge funds.
Planet Fitness Company Profile
(Get your free report)
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 and Equipment. The company has franchise operations in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.
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