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

Planet Fitness, Inc. (NYSE:PLNTGet Rating) – Stock analysts at William Blair boosted their Q3 2022 earnings per share estimates for Planet Fitness in a research report issued to clients and investors on Tuesday, August 2nd. William Blair analyst S. Zackfia now anticipates 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 research firms have also recently weighed in on PLNT. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price objective on the stock in a research report on Wednesday, May 11th. Exane BNP Paribas raised Planet Fitness from an “underperform” rating to a “neutral” rating in a research report on Thursday, July 7th. BMO Capital Markets cut their price objective on Planet Fitness from $96.00 to $88.00 in a research report on Wednesday, May 11th. BNP Paribas raised 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. Finally, Piper Sandler cut their price objective on Planet Fitness from $87.00 to $72.00 in a research report on Wednesday, May 11th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $98.00.

Planet Fitness Trading Down 0.0 %

Shares of Planet Fitness stock opened at $80.25 on Friday. The stock has a fifty day simple moving average of $72.20 and a 200 day simple moving average of $78.76. Planet Fitness has a 12-month low of $61.11 and a 12-month high of $99.60. The company has a market capitalization of $7.30 billion, a P/E ratio of 125.39, a price-to-earnings-growth 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, topping 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 in the prior year, the company posted $0.10 earnings per share. Planet Fitness’s revenue was up 66.8% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PLNT. O Dell Group LLC bought a new stake in shares of Planet Fitness during the 1st quarter valued at $30,000. Lazard Asset Management LLC bought a new stake in shares of Planet Fitness during the 4th quarter valued at $33,000. CWM LLC bought a new stake in shares of Planet Fitness during the 4th quarter valued at $56,000. First Horizon Advisors Inc. raised its stake in shares of Planet Fitness by 290.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 781 shares of the company’s stock valued at $53,000 after purchasing an additional 581 shares during the period. Finally, Standard Family Office LLC raised its stake in shares of Planet Fitness by 1,147.1% during the 1st quarter. Standard Family Office LLC now owns 848 shares of the company’s stock valued at $72,000 after purchasing an additional 780 shares during the period. Hedge funds and other institutional investors own 93.87% of the company’s stock.

Planet Fitness Company Profile

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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.

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

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