O'Reilly Automotive (NASDAQ:ORLY) Updates FY 2024 Earnings Guidance

O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) 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 Price Performance

ORLY stock traded down $6.13 on Wednesday, reaching $1,199.25. The company's stock had a trading volume of 494,068 shares, compared to its average volume of 374,682. O'Reilly Automotive has a 52 week low of $860.10 and a 52 week high of $1,221.18. The company 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. The firm has a fifty day moving average of $1,145.92 and a two-hundred day moving average of $1,079.80.

O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) last released 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). The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.32 billion. O'Reilly Automotive had a net margin of 14.57% and a negative return on equity of 146.57%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $10.22 EPS. As a group, equities analysts expect that O'Reilly Automotive will post 41.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on ORLY shares. JPMorgan Chase & Co. upped their price objective on shares of O'Reilly Automotive from $1,125.00 to $1,300.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Bank of America increased their target price on shares of O'Reilly Automotive from $1,204.00 to $1,290.00 and gave the stock a "buy" rating in a research report on Thursday, August 22nd. DA Davidson upped their target price on O'Reilly Automotive from $1,200.00 to $1,275.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Roth Capital raised shares of O'Reilly Automotive to a "strong-buy" rating in a research report on Tuesday, October 15th. Finally, UBS Group cut their target price on 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. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,206.87.

Insider Buying and Selling

In related news, SVP Mark Joseph Merz sold 413 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 265 shares in the company, valued at $296,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Mark Joseph Merz sold 413 shares of the business's stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $1,120.00, for a total transaction of $462,560.00. Following the completion of the sale, the senior vice president now directly owns 265 shares of the company's stock, valued at $296,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Gregory L. Henslee sold 18,264 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $1,127.55, for a total transaction of $20,593,573.20. Following the completion of the transaction, the chairman now owns 13,347 shares in the company, 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. Insiders have sold a total of 50,411 shares of company stock worth $56,846,062 in the last 90 days. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.