Planet Fitness (PLNT) Set to Announce Quarterly Earnings on Thursday

Planet Fitness (NYSE:PLNT) is scheduled to announce its earnings results before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Planet Fitness has set its FY 2024 guidance at 2.460-2.490 EPS and its FY24 guidance at $2.46-2.49 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $285.10 million during the quarter, compared to the consensus estimate of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. On average, analysts expect Planet Fitness to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $58.66 on Thursday. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 1.95 and a beta of 1.39. The firm has a 50 day simple moving average of $61.78 and a 200 day simple moving average of $65.02. Planet Fitness has a one year low of $44.13 and a one year high of $83.11.

Analyst Ratings Changes

Several research firms have recently issued reports on PLNT. Stifel Nicolaus dropped their price target on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Piper Sandler raised their price target on shares of Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, January 11th. Royal Bank of Canada raised their price target on shares of Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average target price of $71.00.

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.