O’Reilly Automotive (NASDAQ:ORLY) Updates FY24 Earnings Guidance

O’Reilly Automotive (NASDAQ:ORLY) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $40.60 to $41.10 for the period, compared to the consensus estimate of $41.10. The company issued revenue guidance of $16.6 billion to $16.8 billion, compared to the consensus revenue estimate of $16.75 billion. O’Reilly Automotive also updated its FY 2024 guidance to 40.600-41.100 EPS.

O’Reilly Automotive Trading Down 0.5 %

O’Reilly Automotive stock traded down $6.13 during midday trading on Wednesday, hitting $1,199.25. 494,289 shares of the stock were exchanged, compared to its average volume of 374,682. The stock has a market capitalization of $70.63 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 2.30 and a beta of 0.92. The stock’s 50-day simple moving average is $1,147.32 and its 200 day simple moving average is $1,080.64. O’Reilly Automotive has a fifty-two week low of $860.10 and a fifty-two week high of $1,221.18.

O’Reilly Automotive (NASDAQ:ORLY) last issued its quarterly earnings data on Wednesday, July 24th. The specialty retailer reported $10.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.98 by ($0.43). O’Reilly Automotive had a net margin of 14.57% and a negative return on equity of 146.57%. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter last year, the firm posted $10.22 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts anticipate that O’Reilly Automotive will post 41.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ORLY shares. Wedbush reaffirmed a “neutral” rating and set a $1,100.00 price objective on shares of O’Reilly Automotive in a research report on Thursday, July 25th. Evercore ISI increased their price target on O’Reilly Automotive from $1,215.00 to $1,230.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. Roth Mkm reiterated a “buy” rating and issued a $1,337.00 price objective on shares of O’Reilly Automotive in a research note on Wednesday, October 16th. Truist Financial upped their target price on shares of O’Reilly Automotive from $1,204.00 to $1,290.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada decreased their price target on shares of O’Reilly Automotive from $1,124.00 to $1,115.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,206.87.

Insider Activity at O’Reilly Automotive

In other O’Reilly Automotive news, SVP Mark Joseph Merz sold 413 shares of O’Reilly Automotive stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $1,120.00, for a total value of $462,560.00. Following the transaction, the senior vice president now directly owns 265 shares in the company, valued at approximately $296,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other O’Reilly Automotive news, Chairman Gregory L. Henslee sold 18,264 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $1,127.55, for a total transaction of $20,593,573.20. Following the transaction, the chairman now owns 13,347 shares in the company, valued at approximately $15,049,409.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mark Joseph Merz sold 413 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $1,120.00, for a total value of $462,560.00. Following the completion of the sale, the senior vice president now directly owns 265 shares of the company’s stock, valued at $296,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,411 shares of company stock worth $56,846,062 in the last quarter. Company insiders own 1.55% of the company’s stock.

O’Reilly Automotive Company Profile

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.