Shoals Technologies Group (SHLS) Scheduled to Post Earnings on Tuesday

Shoals Technologies Group (NASDAQ:SHLS) will be releasing its earnings data after the market closes on Tuesday, May 7th. Analysts expect Shoals Technologies Group to post earnings of $0.06 per share for the quarter. Shoals Technologies Group has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. The company had revenue of $130.44 million for the quarter, compared to analysts’ expectations of $131.89 million. On average, analysts expect Shoals Technologies Group to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shoals Technologies Group Stock Up 3.1 %

Shares of NASDAQ:SHLS opened at $9.00 on Friday. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $1.53 billion, a P/E ratio of 36.00 and a beta of 1.86. Shoals Technologies Group has a 52-week low of $8.06 and a 52-week high of $28.34. The stock’s fifty day simple moving average is $10.92 and its 200-day simple moving average is $13.41.

Analyst Ratings Changes

A number of research analysts have issued reports on SHLS shares. Piper Sandler reduced their target price on shares of Shoals Technologies Group from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Truist Financial restated a “buy” rating and set a $20.00 target price (down previously from $23.00) on shares of Shoals Technologies Group in a research report on Thursday, February 29th. UBS Group cut their price target on Shoals Technologies Group from $28.00 to $20.00 and set a “buy” rating for the company in a report on Friday, March 1st. Barclays decreased their price objective on Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 5th. Finally, TD Cowen dropped their target price on Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.94.

About Shoals Technologies Group

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.