O’Reilly Automotive Inc (NASDAQ: ORLY) stock opened on a positive note on February 8th, 2017 and generated over 2% (as of 10:58 AM EST; Source: Google finance).
O’Reilly Automotive adjusted earnings per share reached $2.59 in the fourth quarter 2016 ended 31st December, beating the analysts’ estimates for the adjusted earnings per share of $2.54. O’Reilly Automotive had reported the adjusted revenue growth of 8 percent to $2.10 billion in the fourth quarter 2016, beating the analysts’ estimates for revenue of $2.09 billion. The sales at established stores grew 4.8%, on the high end of the company’s projection for growth between 3% and 5%.
Moreover, the operating income for the fourth quarter has increased 12 percent to $408 million from $363 million for the same period one year ago. The net income for the fourth quarter ended December 31st, 2016 has increased 13 percent to $246 million from $219 million for the same period one year ago.
Meanwhile, Greg Johnson and Jeff Shaw have been promoted to co-presidents of ORLY. During the fourth quarter ended December 31st, 2016, O’Reilly Automotive has repurchased 2.0 million shares of its common stock at an average price per share of $269.45, for a total investment of $546 million. During the FY 16, O’Reilly Automotive has repurchased 5.7 million shares of its common stock at an average price per share of $264.21, for a total investment of $1.51 billion. Currently, O’Reilly Automotive has over $634 million remaining under its current share repurchase authorization.
O’Reilly Automotive has updated its FY17 earnings guidance and expects the earnings per share of $12.05-12.15 for the period, compared to the analysts’ consensus estimate of $12.26. The company in FY17 expects the revenue of $9.1-9.3 billion, compared to the consensus revenue estimate of $9.19 billion. The comparable store sales in FY 17 is expected to be in the range of 3% to 5%. The capital expenditures for FY 17 is expected to be in the range of $470 million to $500 million. In addition, ORLY has also updated its Q1 2017 guidance and expects the earnings per share to be in the range of $2.78 to $2.88. The company expects the comparable store sales for Q1 2017 to be in the range of 2% to 4%.
O’Reilly Automotive stock has risen 8.31% in a year (source: Google Finance). According to tipranks.com, 7 analysts has covered the stock while recommending a “Moderate Buy”. ORLY has an average price target of $310, which is a further upside of 18.23%.