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

O’Reilly Automotive (NASDAQ:ORLY) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 40.750-41.250 for the period, compared to the consensus earnings per share 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

Shares of NASDAQ:ORLY traded up $19.29 during trading on Friday, reaching $1,112.20. 357,559 shares of the company were exchanged, compared to its average volume of 397,336. The firm has a market capitalization of $65.50 billion, a PE ratio of 28.31, a P/E/G ratio of 1.94 and a beta of 0.92. The business’s fifty day simple moving average is $1,019.39 and its 200-day simple moving average is $1,044.87. O’Reilly Automotive has a 12-month low of $860.10 and a 12-month high of $1,169.11.

O’Reilly Automotive (NASDAQ:ORLY) last issued its earnings results on Wednesday, July 24th. The specialty retailer reported $10.55 EPS for the quarter, missing analysts’ consensus estimates of $10.98 by ($0.43). The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.32 billion. O’Reilly Automotive had a negative return on equity of 145.52% and a net margin of 14.57%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $10.22 earnings per share. On average, sell-side analysts anticipate that O’Reilly Automotive will post 41.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ORLY has been the subject of several recent analyst reports. Wedbush restated a neutral rating and issued a $1,100.00 target price on shares of O’Reilly Automotive in a research note on Thursday. Royal Bank of Canada lowered their target price 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. Evercore ISI lowered their target price on shares of O’Reilly Automotive from $1,250.00 to $1,225.00 and set an outperform rating for the company in a research note on Tuesday, July 16th. StockNews.com downgraded shares of O’Reilly Automotive from a buy rating to a hold rating in a research note on Friday, May 3rd. Finally, Truist Financial raised their target price on shares of O’Reilly Automotive from $1,143.00 to $1,204.00 and gave the company a buy rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $1,130.67.

Insider Buying and Selling

In other O’Reilly Automotive news, Director Lawrence P. Oreilly sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $949.50, for a total value of $1,424,250.00. Following the transaction, 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 accessible through the SEC website. In other news, Director Lawrence P. Oreilly sold 1,500 shares of the company’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 value of $1,424,250.00. Following the transaction, the director now directly 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 accessible through this hyperlink. Also, CEO Brad W. Beckham sold 6,032 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1,015.00, for a total transaction of $6,122,480.00. Following the sale, the chief executive officer now directly owns 716 shares in the company, valued at $726,740. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by company insiders.

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.