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

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

Planet Fitness Stock Performance

NYSE:PLNT traded up $2.80 during mid-day trading on Friday, reaching $106.04. The stock had a trading volume of 2,138,259 shares, compared to its average volume of 1,515,808. Planet Fitness has a twelve month low of $87.72 and a twelve month high of $114.47. The business has a 50 day simple moving average of $98.66 and a 200 day simple moving average of $102.78. The firm 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.

Institutional Trading of Planet Fitness

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its stake in shares of Planet Fitness by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after buying an additional 24,981 shares in the last quarter. Empowered Funds LLC acquired a new stake in Planet Fitness in the first quarter valued at $1,891,000. EverSource Wealth Advisors LLC boosted its position in shares of Planet Fitness by 184.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after purchasing an additional 214 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Planet Fitness by 25.8% during the 2nd quarter. First Trust Advisors LP now owns 142,689 shares of the company’s stock worth $15,560,000 after purchasing an additional 29,305 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Planet Fitness during the 2nd quarter worth $267,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on PLNT shares. Canaccord Genuity Group raised their price objective on shares of Planet Fitness from $126.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley increased their target price on shares of Planet Fitness from $112.00 to $119.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. UBS Group began coverage on Planet Fitness in a report on Friday, October 17th. They set a “buy” rating and a $125.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus set a $125.00 price objective on Planet Fitness in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.31.

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.