Analysts Issue Forecasts for Planet Fitness FY2024 Earnings

Planet Fitness, Inc. (NYSE:PLNT) – Stock analysts at Zacks Research raised their FY2024 EPS estimates for shares of Planet Fitness in a report released on Thursday, November 28th. Zacks Research analyst R. Department now anticipates that the company will earn $2.49 per share for the year, up from their prior forecast of $2.43. The consensus estimate for Planet Fitness’ current full-year earnings is $2.50 per share. Zacks Research also issued estimates for Planet Fitness’ Q4 2024 earnings at $0.61 EPS, Q1 2025 earnings at $0.64 EPS, Q3 2025 earnings at $0.71 EPS, Q4 2025 earnings at $0.77 EPS, FY2025 earnings at $2.90 EPS, Q1 2026 earnings at $0.73 EPS, Q2 2026 earnings at $0.93 EPS, Q3 2026 earnings at $0.83 EPS and FY2026 earnings at $3.40 EPS.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same period in the prior year, the business earned $0.59 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year.

PLNT has been the subject of several other research reports. Macquarie restated a “neutral” rating and issued a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. DA Davidson raised their price objective on shares of Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Bank of America raised their price target on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Morgan Stanley lifted their price target on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.38.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $99.39 on Monday. The stock has a fifty day moving average price of $87.11 and a 200 day moving average price of $79.05. Planet Fitness has a 1-year low of $54.35 and a 1-year high of $102.81. The company has a market cap of $8.41 billion, a PE ratio of 53.44, a P/E/G ratio of 3.31 and a beta of 1.53.

Insiders Place Their Bets

In other news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.83% of the stock is currently owned by company insiders.

Institutional Trading of Planet Fitness

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLNT. Tidal Investments LLC lifted its stake in shares of Planet Fitness by 71.3% during the 1st quarter. Tidal Investments LLC now owns 4,941 shares of the company’s stock worth $309,000 after purchasing an additional 2,056 shares during the period. Virtu Financial LLC lifted its position in Planet Fitness by 72.2% during the first quarter. Virtu Financial LLC now owns 5,611 shares of the company’s stock worth $351,000 after buying an additional 2,352 shares during the period. Cetera Investment Advisers boosted its stake in Planet Fitness by 74.5% in the 1st quarter. Cetera Investment Advisers now owns 58,699 shares of the company’s stock worth $3,676,000 after buying an additional 25,054 shares during the last quarter. Cetera Advisors LLC grew its holdings in Planet Fitness by 568.8% in the 1st quarter. Cetera Advisors LLC now owns 25,320 shares of the company’s stock valued at $1,586,000 after buying an additional 21,534 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after acquiring an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

About Planet Fitness

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.