FY2024 Earnings Forecast for Planet Fitness, Inc. Issued By Zacks Research (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT) – Stock analysts at Zacks Research raised their FY2024 EPS estimates for shares of Planet Fitness in a research note issued to investors on Tuesday, August 27th. Zacks Research analyst R. Department now anticipates that the company will earn $2.43 per share for the year, up from their prior estimate of $2.40. The consensus estimate for Planet Fitness’ current full-year earnings is $2.43 per share. Zacks Research also issued estimates for Planet Fitness’ Q2 2025 earnings at $0.78 EPS, FY2025 earnings at $2.78 EPS, Q1 2026 earnings at $0.76 EPS, Q2 2026 earnings at $0.95 EPS and FY2026 earnings at $3.37 EPS.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.65 EPS.

Several other analysts also recently commented on the stock. DA Davidson reaffirmed a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their price target for the stock from $62.00 to $100.00 in a report on Monday, June 10th. Robert W. Baird reiterated an “outperform” rating and set a $92.00 price objective on shares of Planet Fitness in a report on Monday, August 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 target price (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Finally, Roth Mkm raised their price target on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.07.

Planet Fitness Price Performance

NYSE PLNT opened at $81.21 on Friday. Planet Fitness has a one year low of $44.13 and a one year high of $82.82. The business has a 50 day simple moving average of $76.34 and a 200 day simple moving average of $68.12. The stock has a market capitalization of $7.16 billion, a P/E ratio of 46.67, a P/E/G ratio of 2.65 and a beta of 1.49.

Hedge Funds Weigh In On Planet Fitness

A number of large investors have recently made changes to their positions in PLNT. Fidelis Capital Partners LLC purchased a new position in Planet Fitness during the first quarter valued at approximately $27,000. GAMMA Investing LLC grew its position in shares of Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares in the last quarter. LRI Investments LLC increased its holdings in shares of Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares during the period. Quarry LP raised its position in shares of Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in Planet Fitness by 24.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock worth $73,000 after buying an additional 197 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Planet Fitness

In other news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the transaction, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.94% of the company’s stock.

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.