Planet Fitness (PLNT): Special Dividend May Be On Its Way - Guggenheim
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- S&P 500 ends up slightly with boost from financials; Netflix up late
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- La Quinta Holdings (LQ) Gains on Plan to Split in Two
- After-Hours Stock Movers 01/18: (OCLR) (CSX) (NFLX) Higher; (AMDA) (RCII) (ZYNE) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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.
Shares of Planet Fitness closed at $20.32 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Target (TGT) PT, Estimates Cut at Buckingham Research Following Miss
- UPDATE: Oppenheimer Starts Fortive (FTV) at Perform
- UBS Cuts Price Target on Morgan Stanley (MS) to $49; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Related EntitiesDividend, Guggenheim
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!