O’Reilly Automotive (NASDAQ:ORLY) Issues FY 2024 Earnings Guidance

O’Reilly Automotive (NASDAQ:ORLY) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 40.750-41.250 for the period, compared to the consensus EPS estimate of 41.860. The company issued revenue guidance of $16.6 billion-$16.9 billion, compared to the consensus revenue estimate of $16.9 billion. O’Reilly Automotive also updated its FY24 guidance to $40.75-$41.25 EPS.

O’Reilly Automotive Price Performance

ORLY stock traded up $17.40 during midday trading on Friday, reaching $1,110.31. 549,923 shares of the company were exchanged, compared to its average volume of 376,880. The business has a 50-day moving average price of $1,021.36 and a two-hundred day moving average price of $1,046.13. O’Reilly Automotive has a one year low of $860.10 and a one year high of $1,169.11. The firm has a market capitalization of $65.39 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.05 and a beta of 0.92.

O’Reilly Automotive (NASDAQ:ORLY) last posted its earnings results on Wednesday, July 24th. The specialty retailer reported $10.55 earnings per share for the quarter, missing analysts’ consensus estimates of $10.98 by ($0.43). O’Reilly Automotive had a negative return on equity of 146.57% and a net margin of 14.57%. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same period in the prior year, the business posted $10.22 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, analysts anticipate that O’Reilly Automotive will post 41.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ORLY. DA Davidson raised their price target on O’Reilly Automotive from $1,200.00 to $1,275.00 and gave the stock a buy rating in a research report on Friday. Evercore ISI reduced their price objective on O’Reilly Automotive from $1,250.00 to $1,225.00 and set an outperform rating on the stock in a research note on Tuesday, July 16th. Wells Fargo & Company reduced their price objective on O’Reilly Automotive from $1,300.00 to $1,200.00 and set an overweight rating on the stock in a research note on Thursday, April 25th. Wedbush reiterated a neutral rating and issued a $1,100.00 target price on shares of O’Reilly Automotive in a research report on Thursday. Finally, UBS Group reduced their price target on O’Reilly Automotive from $1,275.00 to $1,250.00 and set a buy rating on the stock in a report on Thursday, July 18th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, O’Reilly Automotive currently has an average rating of Moderate Buy and an average target price of $1,130.67.

Insider Transactions at O’Reilly Automotive

In other news, Director Lawrence P. Oreilly sold 1,500 shares of O’Reilly Automotive stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $949.50, for a total transaction of $1,424,250.00. Following the sale, the director now directly owns 31,613 shares in the company, valued at approximately $30,016,543.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Lawrence P. Oreilly sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $949.50, for a total transaction of $1,424,250.00. Following the completion of the sale, the director now owns 31,613 shares in the company, valued at approximately $30,016,543.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brad W. Beckham sold 6,032 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $1,015.00, for a total value of $6,122,480.00. Following the completion of the transaction, the chief executive officer now owns 716 shares in the company, valued at approximately $726,740. The disclosure for this sale can be found here. Company insiders own 1.55% of the company’s stock.

About O’Reilly Automotive

O'Reilly Automotive, Inc, together with its subsidiaries, operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, Puerto Rico, and Mexico. The company provides new and remanufactured automotive hard parts and maintenance items, such as alternators, batteries, brake system components, belts, chassis parts, driveline parts, engine parts, fuel pumps, hoses, starters, temperature control, water pumps, antifreeze, appearance products, engine additives, filters, fluids, lighting products, and oil and wiper blades; and accessories, including floor mats, seat covers, and truck accessories.