Planet Fitness (NYSE:PLNT) Releases Earnings Results

Planet Fitness (NYSE:PLNT) issued its quarterly earnings results on Thursday, November 7th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01, reports. Planet Fitness had a net margin of 16.80% and a negative return on equity of 37.57%. The business had revenue of $166.82 million for the quarter, compared to analysts’ expectations of $162.26 million. During the same quarter last year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. Planet Fitness updated its FY19 guidance to ~$1.56 EPS.

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Shares of NYSE:PLNT traded up $1.35 during trading hours on Friday, hitting $71.45. The stock had a trading volume of 837,860 shares, compared to its average volume of 1,730,536. The stock’s fifty day simple moving average is $61.31 and its 200 day simple moving average is $70.45. Planet Fitness has a 1-year low of $48.00 and a 1-year high of $81.90. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 58.57, a PEG ratio of 2.11 and a beta of 0.63.

Several equities analysts have recently commented on PLNT shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $84.00 price target on shares of Planet Fitness in a research report on Wednesday. Berenberg Bank cut shares of Planet Fitness from a “buy” rating to a “hold” rating and cut their target price for the stock from $80.00 to $69.00 in a report on Tuesday, September 3rd. Roth Capital cut their target price on shares of Planet Fitness from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Zacks Investment Research cut shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 target price on the stock. in a report on Wednesday, November 6th. Finally, ValuEngine cut shares of Planet Fitness from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $77.08.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Earnings History for Planet Fitness (NYSE:PLNT)

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