Planet Fitness FY2024 EPS Forecast Boosted by William Blair

Planet Fitness, Inc. (NYSE:PLNT) – Analysts at William Blair lifted their FY2024 EPS estimates for Planet Fitness in a research note issued to investors on Thursday, November 7th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $2.50 for the year, up from their previous forecast of $2.44. The consensus estimate for Planet Fitness’ current full-year earnings is $2.47 per share. William Blair also issued estimates for Planet Fitness’ FY2025 earnings at $2.86 EPS.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. During the same quarter last year, the firm posted $0.59 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year.

Several other brokerages have also recently issued reports on PLNT. Robert W. Baird raised their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. BNP Paribas upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price for the company in a research report on Thursday, September 5th. Raymond James increased their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday. Stifel Nicolaus lifted their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $87.00 price objective (up from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.81.

Planet Fitness Trading Up 1.2 %

Shares of PLNT stock opened at $95.31 on Monday. Planet Fitness has a 12-month low of $54.35 and a 12-month high of $98.59. The stock has a market capitalization of $8.12 billion, a P/E ratio of 51.24, a P/E/G ratio of 3.18 and a beta of 1.49. The firm’s 50 day moving average is $81.75 and its 200 day moving average is $74.97.

Institutional Investors Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC bought a new stake in Planet Fitness in the 2nd quarter valued at $166,978,000. Anomaly Capital Management LP bought a new stake in shares of Planet Fitness in the second quarter worth about $106,795,000. Point72 Asset Management L.P. lifted its position in shares of Planet Fitness by 169.8% in the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after buying an additional 829,509 shares in the last quarter. Steadfast Capital Management LP boosted its stake in Planet Fitness by 97.7% during the first quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock valued at $86,546,000 after buying an additional 682,863 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Planet Fitness by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company’s stock valued at $116,453,000 after buying an additional 483,586 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.