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

Shoals Technologies Group (NASDAQ:SHLS) is scheduled to 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.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $130.44 million for the quarter, compared to analyst estimates of $131.89 million. Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. 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 Performance

Shoals Technologies Group stock traded down $0.13 during trading hours on Tuesday, hitting $8.60. The stock had a trading volume of 572,135 shares, compared to its average volume of 3,792,894. The company has a market cap of $1.46 billion, a PE ratio of 34.92 and a beta of 1.79. Shoals Technologies Group has a fifty-two week low of $8.06 and a fifty-two week high of $28.34. The company has a 50-day moving average of $11.43 and a two-hundred day moving average of $13.58. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 0.33.

Analyst Upgrades and Downgrades

SHLS has been the subject of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and set a $20.00 target price (down previously from $23.00) on shares of Shoals Technologies Group in a report on Thursday, February 29th. Royal Bank of Canada decreased their price objective on shares of Shoals Technologies Group from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Mizuho cut their price target 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. TD Cowen reduced their price objective on Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Finally, Piper Sandler dropped their price target on Shoals Technologies Group from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Shoals Technologies Group has a consensus rating of “Moderate Buy” and an average price target of $20.94.

Shoals Technologies Group Company Profile

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.