O’Reilly Automotive (NASDAQ:ORLY) Releases 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ORLY shares. UBS Group boosted their price target on shares of O’Reilly Automotive from $1,125.00 to $1,275.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Royal Bank of Canada upped their target price on shares of O’Reilly Automotive from $1,003.00 to $1,078.00 and gave the stock an outperform rating in a report on Friday, February 9th. Wedbush lifted their price target on O’Reilly Automotive from $940.00 to $1,100.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Wells Fargo & Company raised their target price on O’Reilly Automotive from $1,200.00 to $1,300.00 and gave the company an overweight rating in a report on Monday, March 25th. Finally, Evercore ISI decreased their price target on O’Reilly Automotive from $1,240.00 to $1,220.00 and set an outperform rating for the company in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $1,115.19.

O’Reilly Automotive Price Performance

ORLY stock traded up $0.35 during mid-day trading on Wednesday, reaching $1,092.70. 461,373 shares of the company traded hands, compared to its average volume of 366,307. The company has a fifty day moving average price of $1,097.21 and a 200-day moving average price of $1,014.34. O’Reilly Automotive has a 52-week low of $860.10 and a 52-week high of $1,169.11. The company has a market capitalization of $64.50 billion, a P/E ratio of 28.40, a P/E/G ratio of 1.98 and a beta of 0.86.

O’Reilly Automotive (NASDAQ:ORLY) last posted its earnings results on Thursday, February 8th. The specialty retailer reported $9.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.07 by $0.19. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.86 billion. O’Reilly Automotive had a net margin of 14.84% and a negative return on equity of 139.01%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $8.37 EPS. As a group, analysts forecast that O’Reilly Automotive will post 42.1 EPS for the current year.

Insider Buying and Selling at O’Reilly Automotive

In related news, SVP Jeffrey Alan Lauro sold 431 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $1,038.63, for a total value of $447,649.53. Following the completion of the transaction, the senior vice president now directly owns 963 shares in the company, valued at $1,000,200.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other O’Reilly Automotive news, Director John Raymond Murphy sold 269 shares of O’Reilly Automotive stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $1,039.28, for a total transaction of $279,566.32. Following the transaction, the director now directly owns 950 shares of the company’s stock, valued at $987,316. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jeffrey Alan Lauro sold 431 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $1,038.63, for a total transaction of $447,649.53. Following the completion of the sale, the senior vice president now directly owns 963 shares of the company’s stock, valued at approximately $1,000,200.69. The disclosure for this sale can be found here. Insiders sold a total of 25,968 shares of company stock worth $27,269,333 over the last three months. 1.18% of the stock is 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.