William Blair Comments on Planet Fitness, Inc.’s Q3 2022 Earnings (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNTGet Rating) – Research analysts at William Blair upped their Q3 2022 earnings per share estimates for shares of Planet Fitness in a research note issued on Tuesday, August 2nd. William Blair analyst S. Zackfia now forecasts that the company will earn $0.43 per share for the quarter, up from their previous estimate of $0.37. The consensus estimate for Planet Fitness’ current full-year earnings is $1.55 per share. William Blair also issued estimates for Planet Fitness’ Q4 2022 earnings at $0.38 EPS.

Several other equities research analysts also recently issued reports on the company. Exane BNP Paribas raised Planet Fitness from an “underperform” rating to a “neutral” rating in a report on Thursday, July 7th. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a report on Wednesday, May 11th. DA Davidson lowered their price objective on Planet Fitness from $110.00 to $90.00 in a research report on Friday, May 13th. BMO Capital Markets lowered their price objective on Planet Fitness from $96.00 to $88.00 in a research report on Wednesday, May 11th. Finally, BNP Paribas upgraded Planet Fitness from an “underperform” rating to a “neutral” rating and set a $75.00 price objective on the stock in a research report on Thursday, July 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $98.00.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $80.25 on Friday. The business has a fifty day simple moving average of $72.20 and a two-hundred day simple moving average of $78.76. Planet Fitness has a 1 year low of $61.11 and a 1 year high of $99.60. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 125.39, a P/E/G ratio of 1.50 and a beta of 1.17.

Planet Fitness (NYSE:PLNTGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The business had revenue of $186.70 million during the quarter, compared to the consensus estimate of $190.44 million. During the same quarter last year, the firm posted $0.10 EPS. The company’s quarterly revenue was up 66.8% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. O Dell Group LLC acquired a new stake in Planet Fitness in the first quarter valued at about $30,000. Lazard Asset Management LLC acquired a new stake in Planet Fitness in the fourth quarter valued at about $33,000. CWM LLC acquired a new stake in Planet Fitness in the fourth quarter valued at about $56,000. First Horizon Advisors Inc. boosted its stake in Planet Fitness by 290.5% in the second quarter. First Horizon Advisors Inc. now owns 781 shares of the company’s stock valued at $53,000 after buying an additional 581 shares in the last quarter. Finally, Standard Family Office LLC boosted its stake in Planet Fitness by 1,147.1% in the first quarter. Standard Family Office LLC now owns 848 shares of the company’s stock valued at $72,000 after buying an additional 780 shares in the last quarter. Institutional investors own 93.87% of the company’s stock.

About Planet Fitness

(Get Rating)

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

Featured Articles

Earnings History and Estimates for Planet Fitness (NYSE:PLNT)

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.