Zacks: Analysts Anticipate Planet Fitness Inc (PLNT) Will Announce Quarterly Sales of $114.19 Million
Wall Street brokerages expect Planet Fitness Inc (NYSE:PLNT) to report $114.19 million in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for Planet Fitness’ earnings, with the lowest sales estimate coming in at $103.01 million and the highest estimate coming in at $122.50 million. Planet Fitness posted sales of $91.10 million during the same quarter last year, which suggests a positive year over year growth rate of 25.3%. The business is expected to report its next quarterly earnings report on Tuesday, May 1st.
On average, analysts expect that Planet Fitness will report full-year sales of $114.19 million for the current year, with estimates ranging from $514.00 million to $531.80 million. For the next fiscal year, analysts expect that the firm will report sales of $577.73 million per share, with estimates ranging from $529.62 million to $604.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Planet Fitness.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $134.00 million during the quarter, compared to the consensus estimate of $131.11 million. Planet Fitness had a negative return on equity of 52.97% and a net margin of 7.71%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 EPS.
Planet Fitness (NYSE:PLNT) traded up $0.17 during trading on Thursday, reaching $39.51. The company had a trading volume of 799,800 shares, compared to its average volume of 1,340,000. The stock has a market cap of $3,890.00 and a PE ratio of 9.19. Planet Fitness has a 1 year low of $18.32 and a 1 year high of $40.04. The company has a current ratio of 1.58, a quick ratio of 1.56 and a debt-to-equity ratio of -5.09.
Planet Fitness announced that its board has approved a stock repurchase plan on Thursday, February 22nd that allows the company to repurchase $80.00 million in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Christopher Rondeau sold 40,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $30.42, for a total transaction of $1,216,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dorvin D. Lively sold 105,443 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $31.50, for a total value of $3,321,454.50. Following the sale, the chief financial officer now owns 67,273 shares of the company’s stock, valued at approximately $2,119,099.50. The disclosure for this sale can be found here. Insiders sold a total of 590,000 shares of company stock valued at $19,336,367 in the last 90 days. 19.87% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Dai Ichi Life Insurance Company Ltd purchased a new stake in shares of Planet Fitness during the 3rd quarter worth about $3,722,000. Sheets Smith Wealth Management purchased a new stake in shares of Planet Fitness during the 4th quarter worth about $364,000. Brown Advisory Inc. purchased a new stake in shares of Planet Fitness during the 3rd quarter worth about $427,000. KAMES CAPITAL plc purchased a new stake in shares of Planet Fitness during the 4th quarter worth about $1,339,000. Finally, California Public Employees Retirement System lifted its position in Planet Fitness by 10.5% during the 3rd quarter. California Public Employees Retirement System now owns 23,200 shares of the company’s stock worth $626,000 after acquiring an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 97.78% of the company’s stock.
Planet Fitness Company Profile
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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