Planet Fitness (PLNT) to Release Earnings on Thursday

Planet Fitness (NYSE:PLNT) is set to release its earnings data before the market opens on Thursday, May 9th. Analysts expect Planet Fitness to post 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.Parties that are interested in participating in the company’s conference call can do so using this link.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $282.35 million. During the same quarter in the prior year, the business posted $0.53 earnings per share. The business’s quarterly revenue was up 1.4% on a year-over-year basis. 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 Stock Up 2.3 %

PLNT stock opened at $62.02 on Wednesday. The business’s 50-day moving average price is $61.44 and its 200-day moving average price is $65.24. The stock has a market cap of $5.47 billion, a P/E ratio of 38.28, a PEG ratio of 1.93 and a beta of 1.37. Planet Fitness has a twelve month low of $44.13 and a twelve month high of $75.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PLNT shares. 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. JPMorgan Chase & Co. cut their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Stifel Nicolaus lowered their price objective on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Royal Bank of Canada upped their price objective on Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley reissued an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research note on Monday, April 1st. Six 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’s stock. Based on data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and a consensus price target of $70.21.

About Planet Fitness

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.