Planet Fitness (NYSE:PLNT) Posts Earnings Results, Beats Expectations By $0.08 EPS

Planet Fitness (NYSE:PLNT) announced its quarterly earnings results on Thursday. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.08, Zacks reports. The business had revenue of $330.35 million for the quarter, compared to analysts’ expectations of $323.95 million. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. Planet Fitness updated its FY 2025 guidance to 3.000-3.030 EPS.

Planet Fitness Price Performance

Shares of Planet Fitness stock traded up $2.80 during trading hours on Friday, hitting $106.04. 2,138,259 shares of the company’s stock traded hands, compared to its average volume of 1,515,808. Planet Fitness has a 12-month low of $87.72 and a 12-month high of $114.47. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 43.28, a PEG ratio of 2.37 and a beta of 1.37. The company has a fifty day simple moving average of $98.66 and a 200-day simple moving average of $102.78.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on Planet Fitness from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday. Raymond James Financial reiterated a “strong-buy” rating on shares of Planet Fitness in a report on Thursday, August 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Planet Fitness in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday. Finally, UBS Group started coverage on shares of Planet Fitness in a report on Friday, October 17th. They issued a “buy” rating and a $125.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and an average target price of $114.31.

Hedge Funds Weigh In On Planet Fitness

Several institutional investors have recently added to or reduced their stakes in PLNT. EverSource Wealth Advisors LLC raised its position in Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after acquiring an additional 214 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Planet Fitness by 1.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 39,197 shares of the company’s stock worth $4,274,000 after purchasing an additional 532 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in Planet Fitness by 8.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 12,512 shares of the company’s stock worth $1,364,000 after purchasing an additional 997 shares during the period. Evergreen Capital Management LLC raised its holdings in Planet Fitness by 50.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,280 shares of the company’s stock worth $358,000 after purchasing an additional 1,098 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Planet Fitness by 1,348.6% during the second quarter. NewEdge Advisors LLC now owns 1,550 shares of the company’s stock valued at $169,000 after purchasing an additional 1,443 shares in the last quarter. Institutional investors own 95.53% 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 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.