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

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) 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.Individual that are interested in participating in the company's earnings conference call can do so using this link.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly 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 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 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 Stock Performance

SHLS traded down $0.28 on Tuesday, hitting $8.45. The company had a trading volume of 2,663,336 shares, compared to its average volume of 3,819,202. Shoals Technologies Group has a 1-year low of $8.06 and a 1-year high of $28.34. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.45 and a quick ratio of 1.88. The company's fifty day moving average price is $11.28 and its 200 day moving average price is $13.53. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 33.80 and a beta of 1.79.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Oppenheimer decreased their price objective on shares of Shoals Technologies Group from $42.00 to $17.00 and set an "outperform" rating for the company in a report on Thursday, February 29th. Royal Bank of Canada lowered 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 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 note on Thursday, February 29th. Janney Montgomery Scott initiated coverage on Shoals Technologies Group in a research report on Friday, January 19th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, UBS Group lowered their price objective on shares of Shoals Technologies Group from $28.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.