O’Reilly Automotive (NASDAQ:ORLY) Updates 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 $40.75-$41.25 for the period, compared to the consensus EPS 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

NASDAQ:ORLY traded up $42.20 during mid-day trading on Thursday, hitting $1,092.91. 875,967 shares of the company’s stock traded hands, compared to its average volume of 397,614. The firm’s 50 day simple moving average is $1,017.66 and its 200 day simple moving average is $1,044.53. 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 $64.36 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.94 and a beta of 0.92.

O’Reilly Automotive (NASDAQ:ORLY) last posted its earnings results on Wednesday, July 24th. The specialty retailer reported $10.55 earnings per share for the quarter, missing the consensus estimate of $10.98 by ($0.43). O’Reilly Automotive had a net margin of 14.78% and a negative return on equity of 145.86%. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter last year, the business posted $10.22 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. On average, research analysts expect that O’Reilly Automotive will post 41.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ORLY has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of O’Reilly Automotive from $1,300.00 to $1,200.00 and set an overweight rating for the company in a report on Thursday, April 25th. UBS Group lowered their price target on shares of O’Reilly Automotive from $1,275.00 to $1,250.00 and set a buy rating for the company in a report on Thursday, July 18th. Truist Financial lowered their price target on shares of O’Reilly Automotive from $1,212.00 to $1,143.00 and set a buy rating for the company in a report on Tuesday, July 2nd. Evercore ISI lowered their price target on shares of O’Reilly Automotive from $1,250.00 to $1,225.00 and set an outperform rating for the company in a report on Tuesday, July 16th. Finally, StockNews.com downgraded shares of O’Reilly Automotive from a buy rating to a hold rating in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, O’Reilly Automotive currently has an average rating of Moderate Buy and an average target price of $1,113.36.

Insider Buying and Selling at O’Reilly Automotive

In other O’Reilly Automotive news, CEO Brad W. Beckham sold 6,032 shares of O’Reilly Automotive 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 transaction, the chief executive officer now directly owns 716 shares of the company’s stock, valued at $726,740. The sale was disclosed in a filing with the SEC, which is available at this link. In other O’Reilly Automotive news, CEO Brad W. Beckham sold 6,032 shares of O’Reilly Automotive 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 transaction, the chief executive officer now directly owns 716 shares of the company’s stock, valued at $726,740. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lawrence P. Oreilly sold 1,500 shares of O’Reilly Automotive 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 sale, the director now owns 31,613 shares in the company, valued at approximately $30,016,543.50. The disclosure for this sale can be found here. 1.55% of the stock is currently 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.