Planet Fitness (PLNT) Guidance Unlikely To Be Raised - DA Davidson

DA Davidson analyst Michael Kawamoto reiterated a Buy rating and $70.00 price target on Planet Fitness (NYSE: PLNT) ahead of 1Q19 results on Thursday, May 2nd AMC. The analyst is expecting the company to meet 1Q expectations and only reiterate, not raise guidance because it is early in the year.

The analyst stated "Our 2019 comp, revenue, and EPS estimates are 8.4%, $659.6M, and $1.53. This is compared to consensus of 8.5%, $663.5M, and $1.54. Our estimates contemplate 15.1% revenue growth, operating expenses of $174.4M (up 15.3%), leading to an operating margin of 34.1% (up 198bp). While we feel that guidance will remain unchanged on 1Q results, guidance could be raised throughout the year. PLNT generally has pretty good visibility to store openings and equipment placements, which give us confidence in their initial guide".

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 $73.11 yesterday.

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