Planet Fitness (PLNT): Special Dividend May Be On Its Way - Guggenheim

October 27, 2016 6:52 AM EDT
Get Alerts PLNT Hot Sheet
Price: $20.51 -0.87%

Rating Summary:
    13 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Guggenheim analyst, John Heinbockel, reiterated his Buy rating on Planet Fitness (NYSE: PLNT) and raised his price target to $24 from $23 noting that PLNT is one of the few consumer companies capable of successfully navigating the challenging operating environment.

PLNT delivered another “beat and raise” quarter, powered, in part, by accelerating membership trends, and it indicated its intention to complete a debt-financed special dividend. The latter highlights the power of growing via a capital-light franchise model.

2016/2017 EBITDA estimates go to $151M (from $147M) and $174M (from $166M) to reflect stronger top-line momentum.

For an analyst ratings summary and ratings history on Planet Fitness click here. For more ratings news on Planet Fitness click here.

Shares of Planet Fitness closed at $20.32 yesterday.

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