Planet Fitness, Inc. (NYSE:PLNT) Releases FY17 Earnings Guidance
Planet Fitness, Inc. (NYSE:PLNT) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $0.76-0.78 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.77. The company issued revenue guidance of $409-415 million, compared to the consensus revenue estimate of $412.48 million.
Several research firms have recently commented on PLNT. Cowen and Company reaffirmed an outperform rating and issued a $28.00 target price (up from $23.00) on shares of Planet Fitness in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a buy rating and issued a $29.00 target price (up from $26.00) on shares of Planet Fitness in a research report on Thursday, August 10th. Zacks Investment Research upgraded shares of Planet Fitness from a hold rating to a buy rating and set a $26.00 price target for the company in a research note on Friday, August 11th. Imperial Capital increased their price target on shares of Planet Fitness from $25.00 to $28.00 and gave the stock an outperform rating in a research note on Tuesday. Finally, BidaskClub upgraded shares of Planet Fitness from a hold rating to a buy rating in a research note on Tuesday, June 27th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $26.89.
Planet Fitness, Inc. (PLNT) traded down 2.49% during trading on Friday, hitting $23.53. 1,047,035 shares of the company were exchanged. Planet Fitness, Inc. has a 1-year low of $18.32 and a 1-year high of $25.19. The firm’s 50 day moving average price is $23.25 and its 200-day moving average price is $21.45. The stock has a market capitalization of $2.02 billion, a PE ratio of 40.57 and a beta of 0.90.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The firm had revenue of $107.31 million for the quarter, compared to the consensus estimate of $101.99 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts predict that Planet Fitness, Inc. will post $0.47 EPS for the current year.
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About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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