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 EPS guidance of $40.60 to $41.10 for the period, compared to the consensus EPS 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 Stock Up 0.5 %

Shares of NASDAQ:ORLY traded up $6.57 during trading on Thursday, hitting $1,205.82. 264,545 shares of the stock traded hands, compared to its average volume of 374,150. The company has a market cap of $71.02 billion, a price-to-earnings ratio of 30.48, a P/E/G ratio of 2.30 and a beta of 0.92. The company has a fifty day moving average price of $1,147.32 and a two-hundred day moving average price of $1,080.64. O’Reilly Automotive has a 52-week low of $860.10 and a 52-week high of $1,221.18.

O’Reilly Automotive (NASDAQ:ORLY) last released its earnings results on Wednesday, October 23rd. The specialty retailer reported $11.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.53 by ($0.12). O’Reilly Automotive had a negative return on equity of 146.57% and a net margin of 14.57%. The business had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the previous year, the company earned $10.72 EPS. O’Reilly Automotive’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that O’Reilly Automotive will post 41.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Roth Capital raised O’Reilly Automotive to a “strong-buy” rating in a research note on Tuesday, October 15th. Wedbush reissued a “neutral” rating and issued a $1,200.00 price objective on shares of O’Reilly Automotive in a research report 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, July 26th. Roth Mkm restated a “buy” rating and issued a $1,337.00 price target on shares of O’Reilly Automotive in a research note on Wednesday, October 16th. Finally, Bank of America increased their price objective on O’Reilly Automotive from $1,204.00 to $1,290.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,209.56.

Insider Activity

In other news, SVP Mark Joseph Merz sold 413 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 265 shares in the company, valued at $296,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Gregory D. Johnson sold 15,364 shares of O’Reilly Automotive stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $1,136.16, for a total transaction of $17,455,962.24. Following the completion of the sale, the director now owns 5,016 shares in the company, valued at approximately $5,698,978.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mark Joseph Merz sold 413 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $1,120.00, for a total transaction of $462,560.00. Following the completion of the transaction, the senior vice president now owns 265 shares in the company, valued at approximately $296,800. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,411 shares of company stock valued at $56,846,062 in the last three months. 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.