Planet Fitness Inc (NYSE:PLNT) to Post FY2021 Earnings of $2.23 Per Share, Imperial Capital Forecasts

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Planet Fitness Inc (NYSE:PLNT) – Investment analysts at Imperial Capital issued their FY2021 earnings estimates for shares of Planet Fitness in a research report issued on Monday, October 14th. Imperial Capital analyst G. Kelly anticipates that the company will post earnings per share of $2.23 for the year. Imperial Capital has a “Outperform” rating and a $72.50 price target on the stock.

Several other analysts have also weighed in on the company. Raymond James started coverage on Planet Fitness in a report on Wednesday, June 26th. They issued an “outperform” rating and a $80.00 target price on the stock. Berenberg Bank lowered Planet Fitness from a “buy” rating to a “hold” rating and lowered their target price for the company from $80.00 to $69.00 in a report on Tuesday, September 3rd. ValuEngine lowered Planet Fitness from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, Roth Capital upped their target price on Planet Fitness from $80.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $77.04.

Planet Fitness stock opened at $60.79 on Tuesday. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 49.83, a price-to-earnings-growth ratio of 1.65 and a beta of 0.62. Planet Fitness has a fifty-two week low of $44.97 and a fifty-two week high of $81.90. The stock’s fifty day moving average is $62.26 and its two-hundred day moving average is $71.72.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04. Planet Fitness had a negative return on equity of 46.45% and a net margin of 16.29%. The firm had revenue of $181.66 million for the quarter, compared to analyst estimates of $167.91 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. Planet Fitness’s quarterly revenue was up 29.2% on a year-over-year basis.

Several institutional investors have recently added to or reduced their stakes in the company. Aperio Group LLC grew its stake in shares of Planet Fitness by 4.7% in the second 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 acquired a new stake in Planet Fitness during the 2nd quarter valued at approximately $332,000. Atria Investments LLC acquired a new stake in Planet Fitness during the 2nd quarter valued at approximately $294,000. BBT Capital Management LLC acquired a new stake in Planet Fitness during the 2nd quarter valued at approximately $231,000. Finally, Allianz Asset Management GmbH grew its stake in Planet Fitness by 96.0% during 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 89.28% of the company’s stock.

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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