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

O’Reilly Automotive (NASDAQ:ORLY) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 40.600-41.100 for the period, compared to the consensus earnings per share estimate of 41.280. The company issued revenue guidance of $16.6 billion-$16.8 billion, compared to the consensus revenue estimate of $16.8 billion. O’Reilly Automotive also updated its FY24 guidance to $40.60 to $41.10 EPS.

O’Reilly Automotive Stock Performance

O’Reilly Automotive stock traded down $6.13 during midday trading on Wednesday, reaching $1,199.25. The stock had a trading volume of 494,068 shares, compared to its average volume of 374,682. O’Reilly Automotive has a 1-year low of $860.10 and a 1-year high of $1,221.18. The firm’s fifty day simple moving average is $1,145.92 and its 200-day simple moving average is $1,079.80. The stock has a market capitalization of $70.63 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 2.30 and a beta of 0.92.

O’Reilly Automotive (NASDAQ:ORLY) last announced its earnings results on Wednesday, July 24th. The specialty retailer reported $10.55 EPS for the quarter, missing the consensus estimate of $10.98 by ($0.43). O’Reilly Automotive had a negative return on equity of 146.57% and a net margin of 14.57%. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the previous year, the company posted $10.22 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that O’Reilly Automotive will post 41.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ORLY has been the topic of a number of recent research reports. Evercore ISI upped their target price on O’Reilly Automotive from $1,215.00 to $1,230.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Royal Bank of Canada cut their price objective on O’Reilly Automotive from $1,124.00 to $1,115.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Roth Capital raised shares of O’Reilly Automotive to a “strong-buy” rating in a research note on Tuesday, October 15th. UBS Group dropped their price target 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. Finally, Wedbush reissued a “neutral” rating and issued a $1,100.00 price objective on shares of O’Reilly Automotive in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,206.87.

Insider Buying and Selling

In related news, 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 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Mark Joseph Merz sold 413 shares of the 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 transaction of $462,560.00. Following the sale, the senior vice president now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Gregory L. Henslee sold 18,264 shares of O’Reilly Automotive stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $1,127.55, for a total value of $20,593,573.20. Following the completion of the transaction, the chairman now directly owns 13,347 shares of the company’s stock, valued at $15,049,409.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,411 shares of company stock valued at $56,846,062. Insiders own 1.55% of the company’s stock.

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.