Q1 2024 EPS Estimates for Planet Fitness, Inc. (NYSE:PLNT) Lifted by William Blair

Planet Fitness, Inc. (NYSE:PLNT - Free Report) - Analysts at William Blair increased their Q1 2024 earnings per share estimates for shares of Planet Fitness in a report released on Monday, April 29th. William Blair analyst S. Zackfia now anticipates that the company will earn $0.47 per share for the quarter, up from their previous estimate of $0.46. The consensus estimate for Planet Fitness' current full-year earnings is $2.48 per share. William Blair also issued estimates for Planet Fitness' FY2024 earnings at $2.48 EPS.

Several other research analysts have also recently weighed in on PLNT. Royal Bank of Canada raised their target price on Planet Fitness from $74.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, March 5th. Piper Sandler increased their price target on Planet Fitness from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, January 11th. Stifel Nicolaus decreased their price target on Planet Fitness from $85.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, February 23rd. DA Davidson reiterated a "neutral" rating and issued a $62.00 price target on shares of Planet Fitness in a research report on Monday, February 5th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $79.00 price target on shares of Planet Fitness in a research report 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $71.00.

Planet Fitness Trading Up 2.4 %

PLNT stock traded up $1.43 during trading hours on Thursday, hitting $60.09. 997,557 shares of the stock traded hands, compared to its average volume of 1,664,222. The stock has a 50-day simple moving average of $61.63 and a 200 day simple moving average of $64.97. Planet Fitness has a one year low of $44.13 and a one year high of $83.11. The company has a market cap of $5.30 billion, a P/E ratio of 36.21, a P/E/G ratio of 1.95 and a beta of 1.37.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The firm had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. During the same period last year, the company earned $0.53 earnings per share. The firm's revenue for the quarter was up 1.4% on a year-over-year basis.

Hedge Funds Weigh In On Planet Fitness

Several institutional investors have recently bought and sold shares of the business. FORA Capital LLC bought a new position in Planet Fitness in the 1st quarter valued at $783,000. Fidelis Capital Partners LLC bought a new stake in shares of Planet Fitness during the first quarter worth $27,000. Janney Montgomery Scott LLC grew its stake in shares of Planet Fitness by 1.1% during the first quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company's stock worth $1,026,000 after purchasing an additional 174 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Planet Fitness by 228.8% during the first quarter. BNP Paribas Financial Markets now owns 23,069 shares of the company's stock worth $1,445,000 after purchasing an additional 16,053 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Planet Fitness by 26.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,582 shares of the company's stock valued at $851,000 after purchasing an additional 2,831 shares during 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.