Planet Fitness (NYSE:PLNT) Issues FY19 Earnings Guidance

Planet Fitness (NYSE:PLNT) updated its FY19 earnings guidance on Thursday. The company provided EPS guidance of ~$1.56 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.57. The company issued revenue guidance of $681.75, compared to the consensus revenue estimate of $683.65 million.

A number of equities analysts have recently issued reports on the company. Roth Capital lowered their price objective on Planet Fitness from $86.00 to $75.00 and set a buy rating for the company in a research report on Friday. Berenberg Bank downgraded Planet Fitness from a buy rating to a hold rating and lowered their price objective for the stock from $80.00 to $69.00 in a research report on Tuesday, September 3rd. Zacks Investment Research downgraded Planet Fitness from a hold rating to a strong sell rating and set a $63.00 price objective for the company. in a research report on Wednesday. Imperial Capital upgraded Planet Fitness from an in-line rating to an outperform rating and set a $72.50 price objective for the company in a research report on Monday, October 14th. Finally, ValuEngine downgraded Planet Fitness from a hold rating to a sell rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Planet Fitness presently has an average rating of Buy and a consensus target price of $76.50.

PLNT stock traded up $5.71 during mid-day trading on Friday, reaching $68.42. The company’s stock had a trading volume of 4,475,984 shares, compared to its average volume of 1,423,953. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 56.08, a price-to-earnings-growth ratio of 1.69 and a beta of 0.63. The business’s 50 day moving average price is $60.22 and its 200 day moving average price is $70.59. Planet Fitness has a 12 month low of $48.00 and a 12 month high of $81.90.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. The business had revenue of $166.82 million during the quarter, compared to the consensus estimate of $162.26 million. Planet Fitness had a negative return on equity of 46.45% and a net margin of 16.29%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Research analysts anticipate that Planet Fitness will post 1.57 earnings per share for the current fiscal year.

Planet Fitness Company Profile

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 and Estimates for Planet Fitness (NYSE:PLNT)

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