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Planet Fitness, Inc. (PLNT) franchises and operates fitness centers.
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, and the Dominican Republic.
The Corporate-owned stores segment operates corporate-owned stores in the United States and Canada.
The Equipment segment engages in the sale of fitness equipment to franchisee-owned stores.
The Company's stores are typically over 20,000 square feet, with a selection of purple and yellow Planet Fitness-branded cardio, circuit- and weight-training equipment and staff trainers offering free fitness instruction to members in small groups through its PE@PF program. Its fitness centers are located in urban areas and company uses spaces that were previously used as large box stores or shopping centers.
As of September 30, 2019, the company had 1,899 stores in the United States, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama, and Mexico.
Shares are heading higher in a bullish "cup and handle" shown in blue. The company is scheduled to report its earnings on February 25th.
On November 7th, the company reported 3rd Quarter September 2019 earnings of $0.36 per share on revenue of $166.8 million. The consensus earnings estimate was $0.35 per share on revenue of $160.9 million. Revenue grew 22.1% on a year-over-year basis.
The company said it expects 2019 earnings of approximately $1.56 per share on revenue of approximately $681.8 million. The company's previous guidance was earnings of approximately $1.54 per share on revenue of approximately $676.0 million and the current consensus earnings estimate is $1.57 per share on revenue of $678.0 million for the year ending December 31, 2019.
52-Weeks Trading Range: $56.14 - $81.90
Entry Point: $80.00
Stop Loss: $76.00
Target Price: $88.00
PLNT closed at $88.55
