FY2024 EPS Forecast for Planet Fitness Raised by Analyst

Planet Fitness, Inc. (NYSE:PLNT) – Investment analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for Planet Fitness in a research report issued to clients and investors on Thursday, November 28th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $2.49 for the year, up from their prior estimate of $2.43. The consensus estimate for Planet Fitness’ current full-year earnings is $2.50 per share. Zacks Research also issued estimates for Planet Fitness’ Q4 2024 earnings at $0.61 EPS, Q1 2025 earnings at $0.64 EPS, Q3 2025 earnings at $0.71 EPS, Q4 2025 earnings at $0.77 EPS, FY2025 earnings at $2.90 EPS, Q1 2026 earnings at $0.73 EPS, Q2 2026 earnings at $0.93 EPS, Q3 2026 earnings at $0.83 EPS and FY2026 earnings at $3.40 EPS.

PLNT has been the topic of several other research reports. Robert W. Baird lifted their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Roth Mkm boosted their price objective on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Bank of America increased their target price on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. BMO Capital Markets reissued an “outperform” rating and set a $87.00 price target (up from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.38.

Planet Fitness Stock Performance

NYSE PLNT opened at $99.39 on Monday. Planet Fitness has a one year low of $54.35 and a one year high of $102.81. The company’s 50 day moving average price is $87.11 and its 200 day moving average price is $79.05. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 53.44, a PEG ratio of 3.31 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. During the same period in the previous year, the company posted $0.59 EPS. The company’s revenue was up 5.3% compared to the same quarter last year.

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in Planet Fitness during the second quarter valued at $166,978,000. Anomaly Capital Management LP acquired a new position in shares of Planet Fitness in the 2nd quarter valued at about $106,795,000. Point72 Asset Management L.P. grew its position in shares of Planet Fitness by 169.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock valued at $96,985,000 after buying an additional 829,509 shares during the last quarter. FMR LLC raised its stake in Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after acquiring an additional 691,761 shares during the period. Finally, Dorsal Capital Management LP lifted its holdings in Planet Fitness by 7.7% in the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock worth $213,940,000 after acquiring an additional 207,193 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the transaction, the insider now owns 19,110 shares of the company’s stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.83% of the company’s stock.

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.