Shoals Technologies Group (SHLS) Set to Announce Earnings on Tuesday

Shoals Technologies Group (NASDAQ:SHLS) is scheduled to post its quarterly earnings results 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.Persons that wish to register for the company’s earnings conference call can do so using this link.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. The business had revenue of $130.44 million for the quarter, compared to the consensus estimate 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 Trading Up 3.1 %

SHLS stock opened at $9.00 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.45 and a quick ratio of 1.88. Shoals Technologies Group has a 1-year low of $8.06 and a 1-year high of $28.34. The business has a 50 day simple moving average of $10.92 and a two-hundred day simple moving average of $13.41. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 36.00 and a beta of 1.86.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $24.00 target price on shares of Shoals Technologies Group in a research report on Wednesday, March 13th. Royal Bank of Canada lowered their price target on Shoals Technologies Group from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. JPMorgan Chase & Co. cut their price objective on shares of Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Mizuho lowered their target price on shares of Shoals Technologies Group from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, April 19th. Finally, Truist Financial reissued a “buy” rating and issued a $20.00 price objective (down from $23.00) on shares of Shoals Technologies Group in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.