Planet Fitness (NYSE:PLNT) Issues Earnings Results

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

Planet Fitness Stock Up 2.7%

Shares of PLNT traded up $2.80 during mid-day trading on Friday, reaching $106.04. 2,138,259 shares of the company’s stock were exchanged, compared to its average volume of 1,515,808. Planet Fitness has a 52-week low of $87.72 and a 52-week high of $114.47. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 43.28, a PEG ratio of 2.37 and a beta of 1.37. The company has a 50-day simple moving average of $98.66 and a two-hundred day simple moving average of $102.78.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLNT. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group started coverage on shares of Planet Fitness in a research note on Friday, October 17th. They set a “buy” rating and a $125.00 price target on the stock. Morgan Stanley increased their price target on shares of Planet Fitness from $112.00 to $119.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Royal Bank Of Canada boosted their price objective on shares of Planet Fitness from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus target price of $114.31.

Hedge Funds Weigh In On Planet Fitness

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after acquiring an additional 214 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Planet Fitness by 1,348.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,550 shares of the company’s stock worth $169,000 after purchasing an additional 1,443 shares during the period. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Planet Fitness during the second quarter worth $218,000. Oxford Asset Management LLP purchased a new stake in shares of Planet Fitness in the second quarter valued at $221,000. Finally, Jump Financial LLC acquired a new position in Planet Fitness in the second quarter valued at $267,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.