Planet Fitness (NYSE:PLNT) Releases FY22 Earnings Guidance

Planet Fitness (NYSE:PLNT – Get Rating) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share guidance of ~$1.52-1.53 for the period, compared to the consensus earnings per share estimate of $1.51. The company issued revenue guidance of ~$909.8-915.7 million, compared to the consensus revenue estimate of $913.84 million.

A number of equities research analysts recently weighed in on the stock. TheStreet cut shares of Planet Fitness from a b- rating to a c rating in a research note on Thursday, February 24th. Evercore ISI assumed coverage on shares of Planet Fitness in a research note on Monday, March 14th. They set an outperform rating and a $130.00 price objective on the stock. Zacks Investment Research cut shares of Planet Fitness from a hold rating to a strong sell rating and set a $70.00 price objective on the stock. in a research note on Wednesday, March 2nd. DA Davidson lifted their price objective on shares of Planet Fitness from $105.00 to $110.00 and gave the company a buy rating in a research note on Wednesday, January 12th. Finally, StockNews.com assumed coverage on shares of Planet Fitness in a research report on Thursday, March 31st. They issued a hold rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $102.91.

NYSE:PLNT traded up $0.20 on Tuesday, hitting $69.20. 33,060 shares of the company’s stock traded hands, compared to its average volume of 954,423. Planet Fitness has a 1 year low of $67.89 and a 1 year high of $99.60. The firm has a 50-day moving average price of $82.46 and a 200-day moving average price of $85.94. The company has a market cap of $6.30 billion, a PE ratio of 132.69, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16.

Planet Fitness (NYSE:PLNT – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $186.70 million for the quarter, compared to analysts’ expectations of $190.44 million. Planet Fitness had a negative return on equity of 10.63% and a net margin of 7.29%. The business’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. Analysts predict that Planet Fitness will post 1.52 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley grew its stake in shares of Planet Fitness by 2.7% in the 2nd quarter. Morgan Stanley now owns 2,301,633 shares of the company’s stock valued at $173,197,000 after buying an additional 60,746 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Planet Fitness by 23.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 686,816 shares of the company’s stock valued at $62,212,000 after buying an additional 131,074 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Planet Fitness by 16.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 389,853 shares of the company’s stock valued at $35,313,000 after buying an additional 53,967 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Planet Fitness by 111.3% in the 4th quarter. Allianz Asset Management GmbH now owns 217,252 shares of the company’s stock valued at $19,679,000 after buying an additional 114,433 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Planet Fitness by 10.8% in the 4th quarter. Sei Investments Co. now owns 108,829 shares of the company’s stock valued at $9,857,000 after buying an additional 10,571 shares in the last quarter. 93.87% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Company Profile (Get Rating)

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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