Planet Fitness (NYSE:PLNT) announced its quarterly earnings results on Thursday. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01, Briefing.com reports. Planet Fitness had a negative return on equity of 46.45% and a net margin of 16.29%. The business had revenue of $166.82 million during the quarter, compared to analysts’ expectations of $162.26 million. During the same quarter last year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. Planet Fitness updated its FY19 guidance to ~$1.56 EPS.
Planet Fitness stock traded up $5.71 during midday trading on Friday, reaching $68.42. 4,475,984 shares of the company were exchanged, compared to its average volume of 1,423,953. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 56.08, a P/E/G ratio of 1.69 and a beta of 0.63. The firm’s 50-day simple moving average is $60.22 and its 200-day simple moving average is $70.59. Planet Fitness has a 1 year low of $48.00 and a 1 year high of $81.90.
PLNT has been the subject of a number of research analyst reports. ValuEngine cut Planet Fitness from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Berenberg Bank cut Planet Fitness from a “buy” rating to a “hold” rating and dropped their price target for the company from $80.00 to $69.00 in a research report on Tuesday, September 3rd. Zacks Investment Research cut Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 price target 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 target for the company in a research report on Monday, October 14th. Finally, Roth Capital dropped their price target on Planet Fitness from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $76.50.
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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