O’Reilly Automotive (NASDAQ:ORLY) Issues 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.

Analyst Ratings Changes

ORLY has been the subject of several research analyst reports. Truist Financial raised their price objective on O’Reilly Automotive from $1,204.00 to $1,290.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of O’Reilly Automotive from $1,125.00 to $1,300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Bank of America increased their price target on shares of O’Reilly Automotive from $1,204.00 to $1,290.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. DA Davidson boosted their price objective on shares of O’Reilly Automotive from $1,200.00 to $1,275.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, UBS Group decreased their target price on shares of O’Reilly Automotive from $1,275.00 to $1,250.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Three equities research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,206.87.

O’Reilly Automotive Price Performance

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

O’Reilly Automotive (NASDAQ:ORLY) last released its quarterly 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 net margin of 14.57% and a negative return on equity of 146.57%. 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 previous year, the business posted $10.22 earnings per share. O’Reilly Automotive’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts expect that O’Reilly Automotive will post 41.06 EPS for the current fiscal year.

Insider Activity

In other O’Reilly Automotive news, Director Gregory D. Johnson sold 15,364 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $1,136.16, for a total transaction of $17,455,962.24. Following the sale, the director now directly owns 5,016 shares of the company’s stock, valued at approximately $5,698,978.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Mark Joseph Merz sold 413 shares of the business’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 sale, the senior vice president now directly owns 265 shares in the company, valued at $296,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory D. Johnson sold 15,364 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $1,136.16, for a total value of $17,455,962.24. Following the completion of the transaction, the director now owns 5,016 shares of the company’s stock, valued at $5,698,978.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,411 shares of company stock worth $56,846,062. 1.55% of the stock is currently owned by 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.