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 EPS guidance of $41.35-41.85 for the period, compared to the consensus EPS estimate of $42.45. The company issued revenue guidance of $16.8-17.1 billion, compared to the consensus revenue estimate of $16.95 billion. O’Reilly Automotive also updated its FY 2024 guidance to 41.350-41.850 EPS.

O’Reilly Automotive Trading Down 0.9 %

Shares of ORLY stock traded down $9.60 during mid-day trading on Friday, reaching $1,044.53. The stock had a trading volume of 185,299 shares, compared to its average volume of 370,771. O’Reilly Automotive has a 12-month low of $860.10 and a 12-month high of $1,169.11. The company has a market cap of $61.66 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86. The business has a 50-day simple moving average of $1,097.34 and a 200 day simple moving average of $1,014.62.

O’Reilly Automotive (NASDAQ:ORLY) last announced its earnings results on Thursday, April 25th. The specialty retailer reported $9.20 EPS for the quarter, beating the consensus estimate of $9.18 by $0.02. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.99 billion. O’Reilly Automotive had a negative return on equity of 139.08% and a net margin of 14.78%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business posted $8.28 EPS. Research analysts anticipate that O’Reilly Automotive will post 42.1 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ORLY. Truist Financial dropped their price target on O’Reilly Automotive from $1,234.00 to $1,212.00 and set a buy rating on the stock in a research report on Friday. Wells Fargo & Company dropped their price target on O’Reilly Automotive from $1,300.00 to $1,200.00 and set an overweight rating on the stock in a research report on Thursday. Mizuho initiated coverage on O’Reilly Automotive in a research report on Tuesday, March 19th. They set a buy rating and a $1,225.00 price target on the stock. Royal Bank of Canada boosted their target price on O’Reilly Automotive from $1,003.00 to $1,078.00 and gave the company an outperform rating in a research note on Friday, February 9th. Finally, Wedbush restated a neutral rating and set a $1,100.00 target price on shares of O’Reilly Automotive in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, O’Reilly Automotive has a consensus rating of Moderate Buy and an average price target of $1,106.31.

Insider Buying and Selling at O’Reilly Automotive

In related news, CFO Jeremy Adam Fletcher sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $1,028.00, for a total transaction of $5,140,000.00. Following the sale, the chief financial officer now owns 2,335 shares in the company, valued at $2,400,380. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other O’Reilly Automotive news, Chairman David E. Oreilly sold 6,444 shares of O’Reilly Automotive stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $1,062.60, for a total transaction of $6,847,394.40. Following the completion of the sale, the chairman now directly owns 205,095 shares in the company, valued at $217,933,947. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jeremy Adam Fletcher sold 5,000 shares of O’Reilly Automotive stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $1,028.00, for a total transaction of $5,140,000.00. Following the completion of the transaction, the chief financial officer now owns 2,335 shares of the company’s stock, valued at approximately $2,400,380. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,968 shares of company stock worth $27,269,333. 1.55% of the stock is owned by corporate 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.