Planet Fitness (NYSE:PLNT) Announces Earnings Results, Beats Expectations By $0.08 EPS

Planet Fitness (NYSE:PLNT) posted its quarterly earnings data on Thursday. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08, Zacks reports. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The company had revenue of $330.35 million for the quarter, compared to analyst estimates of $323.95 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. Planet Fitness updated its FY 2025 guidance to 3.000-3.030 EPS.

Planet Fitness Stock Up 2.7%

PLNT traded up $2.80 during trading on Friday, hitting $106.04. The company had a trading volume of 2,138,259 shares, compared to its average volume of 1,515,808. The company has a market capitalization of $8.93 billion, a PE ratio of 43.28, a PEG ratio of 2.37 and a beta of 1.37. Planet Fitness has a one year low of $87.72 and a one year high of $114.47. The firm’s 50-day moving average price is $98.66 and its 200 day moving average price is $102.78.

Institutional Trading of Planet Fitness

Institutional investors have recently modified their holdings of the company. Sea Cliff Partners Management LP grew its holdings in shares of Planet Fitness by 385.6% during the second quarter. Sea Cliff Partners Management LP now owns 185,782 shares of the company’s stock worth $20,260,000 after buying an additional 147,527 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Planet Fitness by 97.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 272,296 shares of the company’s stock worth $29,694,000 after acquiring an additional 134,622 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Planet Fitness in the second quarter worth $10,805,000. BW Gestao de Investimentos Ltda. acquired a new stake in Planet Fitness in the 2nd quarter valued at $9,276,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of Planet Fitness during the 2nd quarter worth about $8,183,000. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PLNT shares. Canaccord Genuity Group upped their target price on shares of Planet Fitness from $126.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their target price on shares of Planet Fitness from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday. Raymond James Financial reiterated a “strong-buy” rating on shares of Planet Fitness in a research report on Thursday, August 7th. Finally, UBS Group initiated coverage on shares of Planet Fitness in a research report on Friday, October 17th. They issued a “buy” rating and a $125.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.31.

About Planet Fitness

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.