To the delight of its shareholders, O'Reilly Automotive, Inc.’s (NASDAQ:ORLY) board approved an increase in the share repurchase authorization program by an additional $1 billion. This raised the aggregate authorization under the program to $12.75 billion.
O’Reilly is a leading specialty retailer of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States. The company sells products to Do-it-Yourself (DIY) customers and Do-it-for-Me (DIFM) or professional installers. Strong cash flow aids O’Reilly to pursue an aggressive share-repurchase policy, which continues to boost earnings per share. In the first quarter of 2019, the company repurchased 0.9 million shares for $322 million. In 2018, it bought back 6.1 million shares for $1.71 billion.
The additional $1 billion authorization is effective for a three-year period, beginning on May 31, 2019. In first-quarter 2019, O’Reilly’s adjusted earnings per share were $4.05, marking 12% rise from $3.61 in the prior-year quarter. However, the figure missed the Zacks Consensus Estimate of $4.06.
A few other stocks in the auto space are Ford Motor Company (NYSE:F) , Fox Factory Holding Corp. (NASDAQ:FOXF) and Cummins Inc. (NYSE:CMI) . Ford, Fox Factory and Cummins have expected long-term growth rates of 7.3%, 16.4% and 8%, respectively.
Wall Street’s Next Amazon (NASDAQ:AMZN)
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Fox Factory Holding Corp. (FOXF): Free Stock Analysis Report
Ford Motor Company (F): Free Stock Analysis Report
O'Reilly Automotive, Inc. (ORLY): Free Stock Analysis Report
Cummins Inc. (CMI): Free Stock Analysis Report
Original post
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
O'Reilly Approves Additional $1B Repurchase Authorization
Published 06/04/2019, 09:56 PM
Updated 07/09/2023, 06:31 AM
O'Reilly Approves Additional $1B Repurchase Authorization
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.