Imperial Capital Comments on Planet Fitness Inc’s FY2019 Earnings (NYSE:PLNT)

Share on StockTwits

Planet Fitness Inc (NYSE:PLNT) – Research analysts at Imperial Capital raised their FY2019 earnings per share (EPS) estimates for Planet Fitness in a research report issued on Tuesday, November 12th. Imperial Capital analyst G. Kelly now anticipates that the company will earn $1.56 per share for the year, up from their prior forecast of $1.55. Imperial Capital has a “Outperform” rating and a $80.00 price target on the stock. Imperial Capital also issued estimates for Planet Fitness’ Q1 2020 earnings at $0.44 EPS, Q2 2020 earnings at $0.51 EPS, Q3 2020 earnings at $0.41 EPS, Q4 2020 earnings at $0.61 EPS, FY2020 earnings at $1.97 EPS and FY2021 earnings at $2.28 EPS.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Planet Fitness had a net margin of 16.80% and a negative return on equity of 40.02%. The company had revenue of $166.82 million for the quarter, compared to analysts’ expectations of $162.26 million. During the same quarter in the previous year, the firm posted $0.28 EPS. Planet Fitness’s revenue was up 22.1% on a year-over-year basis.

Other research analysts have also issued reports about the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $84.00 target price on shares of Planet Fitness in a research report on Wednesday. Zacks Investment Research downgraded shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 price objective for the company. in a research note on Wednesday, November 6th. Berenberg Bank downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating and lowered their price objective for the company from $80.00 to $69.00 in a research note on Tuesday, September 3rd. ValuEngine downgraded shares of Planet Fitness from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Finally, Roth Capital dropped their target price on shares of Planet Fitness from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $77.08.

PLNT opened at $71.03 on Wednesday. The company has a fifty day moving average price of $60.93 and a 200-day moving average price of $70.50. The firm has a market capitalization of $6.52 billion, a P/E ratio of 58.22, a price-to-earnings-growth ratio of 1.92 and a beta of 0.63. Planet Fitness has a one year low of $48.00 and a one year high of $81.90.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aperio Group LLC lifted its holdings in Planet Fitness by 4.7% during the 2nd quarter. Aperio Group LLC now owns 16,832 shares of the company’s stock valued at $1,219,000 after buying an additional 755 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Planet Fitness in the 2nd quarter valued at about $332,000. Atria Investments LLC bought a new stake in shares of Planet Fitness in the 2nd quarter valued at about $294,000. BBT Capital Management LLC bought a new stake in shares of Planet Fitness in the 2nd quarter valued at about $231,000. Finally, Allianz Asset Management GmbH raised its holdings in shares of Planet Fitness by 96.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 150,217 shares of the company’s stock valued at $10,882,000 after purchasing an additional 73,573 shares in the last quarter. Institutional investors own 87.75% of the company’s stock.

Planet Fitness Company Profile

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.

Featured Article: What causes a stock to be most active?

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

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.