Shoals Technologies Group (SHLS) to Release Quarterly Earnings on Tuesday

Shoals Technologies Group (NASDAQ:SHLS) will release 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.Parties that are interested in participating in the company’s conference call can do so using this link.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly 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). 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 during 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 %

Shoals Technologies Group stock opened at $9.00 on Monday. The firm has a market capitalization of $1.53 billion, a P/E ratio of 36.00 and a beta of 1.86. The company has a current ratio of 2.45, a quick ratio of 1.88 and a debt-to-equity ratio of 0.33. Shoals Technologies Group has a twelve month low of $8.06 and a twelve month high of $28.34. The stock’s fifty day simple moving average is $10.92 and its 200-day simple moving average is $13.38.

Analyst Ratings Changes

A number of research firms have issued reports on SHLS. Royal Bank of Canada reduced their price target on Shoals Technologies Group from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Truist Financial reiterated a “buy” rating and issued a $20.00 price target (down previously from $23.00) on shares of Shoals Technologies Group in a research note on Thursday, February 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 price objective on shares of Shoals Technologies Group in a research report on Wednesday, March 13th. JPMorgan Chase & Co. decreased their price objective on shares of Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, Janney Montgomery Scott began coverage on shares of Shoals Technologies Group in a research note on Friday, January 19th. They set a “buy” rating and a $20.00 target price for the company. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.