RBC Capital analysts provided a preview on O’Reilly Automotive (NASDAQ:ORLY) ahead of the upcoming Q1 earnings announcement, scheduled on Wednesday.
The analysts expect the company to report comp sales growth of 6.2% (vs. Street’s 6.6%) and EPS of $7.89 (vs. Street’s $7.96).
According to the analysts, the company should continue to benefit from an uncertain macro backdrop, but at 22x consensus 2024 EPS estimate, they wouldn’t necessarily be adding to positions ahead of the print. The analysts reiterated their Outperform rating and $900 price target on the company’s shares.