O’Reilly Automotive, Inc. to Post Q2 2024 Earnings of $11.27 Per Share, Wedbush Forecasts (NASDAQ:ORLY)

O’Reilly Automotive, Inc. (NASDAQ:ORLY) – Equities research analysts at Wedbush lowered their Q2 2024 earnings estimates for O’Reilly Automotive in a report released on Thursday, April 25th. Wedbush analyst S. Basham now expects that the specialty retailer will post earnings per share of $11.27 for the quarter, down from their previous estimate of $11.41. Wedbush has a “Neutral” rating and a $1,100.00 price target on the stock. The consensus estimate for O’Reilly Automotive’s current full-year earnings is $41.70 per share. Wedbush also issued estimates for O’Reilly Automotive’s Q3 2024 earnings at $11.88 EPS, Q4 2024 earnings at $9.57 EPS, FY2024 earnings at $41.92 EPS, Q1 2025 earnings at $10.01 EPS, Q2 2025 earnings at $12.35 EPS, Q3 2025 earnings at $13.02 EPS, Q4 2025 earnings at $10.50 EPS, FY2025 earnings at $45.88 EPS and FY2026 earnings at $50.18 EPS.

O’Reilly Automotive (NASDAQ:ORLY) last announced its earnings results on Thursday, April 25th. The specialty retailer reported $9.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.18 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.99 billion. O’Reilly Automotive had a negative return on equity of 145.86% and a net margin of 14.78%. O’Reilly Automotive’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $8.28 EPS.

ORLY has been the topic of a number of other reports. Wells Fargo & Company reduced their price target on shares of 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 report on Tuesday, March 19th. They set a “buy” rating and a $1,225.00 target price for the company. Barclays raised their price target on O’Reilly Automotive from $954.00 to $986.00 and gave the stock an “equal weight” rating in a report on Thursday, January 4th. Royal Bank of Canada upped their price objective on O’Reilly Automotive from $1,003.00 to $1,078.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, The Goldman Sachs Group boosted their price target on shares of O’Reilly Automotive from $1,022.00 to $1,170.00 and gave the company a “buy” rating in a report on Friday, February 9th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,106.31.

O’Reilly Automotive Price Performance

O’Reilly Automotive stock opened at $1,043.93 on Friday. O’Reilly Automotive has a 12 month low of $860.10 and a 12 month high of $1,169.11. The company has a fifty day moving average price of $1,097.20 and a two-hundred day moving average price of $1,016.19. The company has a market cap of $61.62 billion, a PE ratio of 26.50, a P/E/G ratio of 1.93 and a beta of 0.86.

Insider Activity

In other news, CFO Jeremy Adam Fletcher sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $1,028.00, for a total value of $5,140,000.00. Following the completion of the sale, the chief financial officer now owns 2,335 shares in the company, valued at $2,400,380. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman David E. Oreilly sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $1,053.58, for a total transaction of $10,535,800.00. Following the completion of the sale, the chairman now directly owns 216,539 shares in the company, valued at $228,141,159.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Adam Fletcher sold 5,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $1,028.00, for a total value of $5,140,000.00. Following the sale, 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 ninety days, insiders have sold 25,968 shares of company stock worth $27,269,333. 1.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On O’Reilly Automotive

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in O’Reilly Automotive in the 4th quarter worth approximately $671,384,000. International Assets Investment Management LLC boosted its position in shares of O’Reilly Automotive by 89,319.3% during the 4th quarter. International Assets Investment Management LLC now owns 653,655 shares of the specialty retailer’s stock valued at $621,025,000 after acquiring an additional 652,924 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of O’Reilly Automotive by 656.2% during the 4th quarter. Wellington Management Group LLP now owns 457,625 shares of the specialty retailer’s stock worth $434,780,000 after buying an additional 397,108 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in O’Reilly Automotive during the third quarter worth about $198,365,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of O’Reilly Automotive by 15.0% during the first quarter. Bank of New York Mellon Corp now owns 1,406,513 shares of the specialty retailer’s stock worth $1,587,784,000 after purchasing an additional 183,296 shares during the last quarter. 85.00% of the stock is owned by institutional investors and hedge funds.

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.