O’Reilly Automotive (NASDAQ:ORLY) Posts Quarterly Earnings Results, Misses Estimates By $0.43 EPS

O’Reilly Automotive (NASDAQ:ORLY) issued its earnings results on Wednesday. The specialty retailer reported $10.55 earnings per share for the quarter, missing analysts’ consensus estimates of $10.98 by ($0.43), Briefing.com reports. O’Reilly Automotive had a negative return on equity of 146.57% and a net margin of 14.57%. The firm 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 firm posted $10.22 earnings per share. O’Reilly Automotive’s quarterly revenue was up 5.0% on a year-over-year basis. O’Reilly Automotive updated its FY24 guidance to $40.75-$41.25 EPS and its FY 2024 guidance to 40.750-41.250 EPS.

O’Reilly Automotive Stock Performance

Shares of NASDAQ:ORLY opened at $1,110.31 on Friday. 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 $65.39 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.05 and a beta of 0.92. The company has a fifty day moving average of $1,021.36 and a 200-day moving average of $1,046.13.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Royal Bank of Canada cut their price target 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. UBS Group decreased their price objective 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. Wedbush reissued a “neutral” rating and set a $1,100.00 target price on shares of O’Reilly Automotive in a report on Thursday. Evercore ISI decreased their price target on shares of O’Reilly Automotive from $1,250.00 to $1,225.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Finally, StockNews.com cut shares of O’Reilly Automotive from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, O’Reilly Automotive has an average rating of “Moderate Buy” and a consensus target price of $1,130.67.

Insider Activity at O’Reilly Automotive

In other O’Reilly Automotive news, CEO Brad W. Beckham sold 6,032 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $1,015.00, for a total value of $6,122,480.00. Following the completion of the transaction, the chief executive officer now owns 716 shares of the company’s stock, valued at approximately $726,740. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, 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 directly owns 31,613 shares in the company, valued at approximately $30,016,543.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brad W. Beckham sold 6,032 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 716 shares of the company’s stock, valued at $726,740. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by company 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.