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

O’Reilly Automotive (NASDAQ:ORLY) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $40.75-$41.25 for the period, compared to the consensus estimate of $41.81. The company issued revenue guidance of $16.6-$16.9 billion, compared to the consensus revenue estimate of $16.89 billion. O’Reilly Automotive also updated its FY 2024 guidance to 40.750-41.250 EPS.

O’Reilly Automotive Stock Performance

Shares of ORLY stock traded up $20.79 during mid-day trading on Friday, reaching $1,113.70. The company’s stock had a trading volume of 334,260 shares, compared to its average volume of 397,173. O’Reilly Automotive has a 1-year low of $860.10 and a 1-year high of $1,169.11. The company has a market cap of $65.59 billion, a P/E ratio of 28.31, a PEG ratio of 1.94 and a beta of 0.92. The firm’s 50-day moving average is $1,019.39 and its two-hundred day moving average is $1,044.87.

O’Reilly Automotive (NASDAQ:ORLY) last announced its quarterly earnings data on Wednesday, July 24th. The specialty retailer reported $10.55 earnings per share (EPS) 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 145.52%. The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the prior year, the company posted $10.22 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that O’Reilly Automotive will post 41.6 EPS for the current year.

Analysts Set New Price Targets

ORLY has been the topic of several analyst reports. DA Davidson upped their target price on shares of O’Reilly Automotive from $1,200.00 to $1,275.00 and gave the stock a buy rating in a report on Friday. Truist Financial increased their price objective on shares of O’Reilly Automotive from $1,143.00 to $1,204.00 and gave the stock a buy rating in a report on Friday. UBS Group decreased their price objective on shares of 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. Royal Bank of Canada decreased their price objective on shares of O’Reilly Automotive from $1,124.00 to $1,115.00 and set an outperform rating on the stock in a report on Friday. Finally, Wells Fargo & Company decreased their price objective on shares of O’Reilly Automotive from $1,300.00 to $1,200.00 and set an overweight rating on the stock in a report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $1,130.67.

Insiders Place Their Bets

In other news, CEO Brad W. Beckham sold 6,032 shares of the firm’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 transaction of $6,122,480.00. Following the completion of the transaction, the chief executive officer now directly owns 716 shares of the company’s stock, valued at approximately $726,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the director now directly owns 31,613 shares of the company’s stock, valued at approximately $30,016,543.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brad W. Beckham sold 6,032 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $1,015.00, for a total transaction of $6,122,480.00. Following the completion of the transaction, the chief executive officer now directly owns 716 shares of the company’s stock, valued at $726,740. The disclosure for this sale can be found here. Corporate 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.