Planet Fitness (NYSE:PLNT) Issues Earnings Results

Planet Fitness (NYSE:PLNT) posted its earnings results on Thursday. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07, Briefing.com reports. The company had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. Planet Fitness updated its FY 2024 guidance to 2.420-2.440 EPS.

Planet Fitness Price Performance

Shares of PLNT traded up $1.14 on Friday, reaching $95.31. 1,981,505 shares of the stock traded hands, compared to its average volume of 1,555,188. The stock’s 50-day moving average price is $81.47 and its 200-day moving average price is $74.53. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 52.29, a P/E/G ratio of 2.84 and a beta of 1.49. Planet Fitness has a 12 month low of $54.35 and a 12 month high of $98.59.

Wall Street Analyst Weigh In

Several equities analysts have commented on PLNT shares. Macquarie reissued a “neutral” rating and set a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday. Piper Sandler lifted their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective for the company in a report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.81.

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.