最新ニュース NVR (NYSE:NVR) 株価情報

NVR Inc is a United States-based homebuilding company. It builds single-family detached homes, townhomes, and condominium buildings under three brands, Ryan Homes, NVHomes, and Heartland Homes. The company through its subsidiary also operates a mortgage banking and title services business. The homebuilding segment includes four geographic areas of the United States; Mid-Atlantic, North East, Mid-East, and South East.

NVR Inc

Enviri Corp

Nevro Corp

NEVRO ORD

NOVRA TECH INC ORD by Novra Technologies Inc

Novra Technologies Inc

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/587f78d077f9dd000126ef0f/john-difucci">Guggenheim analyst John Difucci</a> downgraded the rating for Smartsheet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>) from Buy to Neutral. Smartsheet shares closed at $56.02 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JMP Securities analyst Constantine Davides downgraded the rating for agilon health, inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGL#NYSE">AGL</a>) from Market Outperform to Market Perform. Agilon Health shares closed at $1.84 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5abbc11ab0230000019a9b76/john-mcnulty">BMO Capital analyst John McNulty</a> downgraded Celanese Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CE#NYSE">CE</a>) from Market Perform to Underperform and lowered the price target from $138 to $76. Celanese shares closed at $84.80 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Seaport Global analyst Kenneth Zener downgraded the rating for NVR, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) from Buy to Neutral. NVR shares closed at $9,306.94 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Raymond James analyst James Rollyson downgraded Tidewater Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDW#NYSE">TDW</a>) from Strong Buy to Outperform and slashed the price target from $131 to $102. Tidewater shares closed at $56.07 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying CE stock? Here&#8217;s what analysts think:
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="546" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11071418/image-108-1024x546.png" alt="" class="wp-image-640254" style="width:508px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11071418/image-108-1024x546.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11071418/image-108-300x160.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11071418/image-108-768x409.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11071418/image-108.png 1242w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/news/earnings/24/11/41871463/dow-sp-500-notch-best-week-of-year-as-tesla-surges-post-trump-win-investor-sentiment-improves-fear-greed-index-remains-in-neutral-zone">Dow, S&amp;P 500 Notch Best Week Of Year As Tesla Surges Post Trump Win: Investor Sentiment Improves, Fear &amp; Greed Index Remains In &#8216;Neutral&#8217; Zone</a></li>
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News

Downgrades

Pre-Market Outlook

Markets

Analyst Ratings

Trading Ideas

SMAR

This Celanese Analyst Turns Bearish; Here Are Top 5 Downgrades For Monday

Seaport Global analyst Kenneth Zener downgrades NVR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) from Buy to Neutral.

Seaport Global Downgrades NVR to Neutral

Macro Economic Events

Macro Notification

Econ #s

Economics

General

MDCE

TMHC

USA Pending Home Sales (MoM) For September 7.4% Vs 1.9% Est.; 0.6% Prior

WIIM

BLDR

Shares of homebuilders and housing-related stocks are trading lower in possible sympathy with D.R. Horton, which reported worse-than-expected Q4 EPS and sales.

B of A Securities analyst Rafe Jadrosich maintains NVR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) with a Buy and lowers the price target from $10800 to $10600.

Price Target

B of A Securities Maintains Buy on NVR, Lowers Price Target to $10600

UBS analyst John Lovallo maintains NVR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) with a Neutral and raises the price target from $8450 to $9450.

UBS Maintains Neutral on NVR, Raises Price Target to $9450

NVR shares are trading lower following a Q3 EPS miss.

NVR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) reported quarterly earnings of $130.50 per share which missed the analyst consensus estimate of $131.00 by 0.38 percent. This is a 4.18 percent increase over earnings of $125.26 per share from the same period last year.

Earnings

NVR Q3 EPS $130.50 Misses $131.00 Estimate

GRBK

LGIH

LOVE

LSEA

ROCK

Shares of housing-related stocks are trading higher after the Fed policy decision to cut rates by 50 basis points, which could help curb housing unaffordability and increase demand.

New construction on single-family homes in the U.S. <a href="https://www.benzinga.com/news/23/06/32926608/us-housing-starts-skyrocket-to-highest-level-since-2016-sign-of-strong-market-optimism-among-builder">jumped in August</a> as mortgage rates trend downward and the Federal Reserve is expected to cut rates on Wednesday for the first time in four years.
Single-family housing starts last month came in at an annualized rate of 992,000 units, up 15.8% from a revised figure of 857,000 for July, according to Commerce Department data released on Wednesday.
Starts for all privately-owned housing in August totaled an annualized rate of 1.356 million units, up 9.6% from the July revised estimate of 1.237 million and up 3.9% from the August 2023 rate of 1.305 million.
Single-family housing completions reached an annualized rate of 1.029 million in August, registering a 5.6% decline from July&#8217;s revised rate of 1.09 million.
Completions for all privately-owned homes in August were at a seasonally adjusted annual rate of 1.788 million, up 9.2% from the July revised estimate of 1.637 million and 30.2% above the July 2023 rate of 1.373 million.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37845734/housing-starts-rebound-lift-homebuilder-stocks-sign-of-economic-resilience">Housing Starts Rebound, Lift Homebuilder Stocks: Sign Of Economic Resilience</a>
Building permits also rose last month, Commerce Department data showed.
Single-family authorizations in August were at a rate of 967,000, up 2.8% from the revised July figure of 941,000.
Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,475,000. That&#8217;s up 4.9% from the July revised rate of 1.406 million but below the August 2023 rate of 1.578 million.
The average rate for <a href="https://www.benzinga.com/news/24/09/40921345/mortgage-rates-drop-to-2-year-low-refinancing-hits-fastest-pace-since-2022-rocket-lendingtree-among">30-year mortgages</a> fell 14 basis points in the week ended Sept. 13 to 6.15%, marking the lowest rate since September 2022, according to the Mortgage Bankers Association.
The Federal Reserve is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40921827/fed-decision-is-here-5-things-investors-need-to-know-ahead-of-wednesdays-pivotal-in">expected to lower</a> its key interest rate ranging from 5% to 5.25% on Wednesday by either 25 or 50 basis points, signifying its first rate decline in four years.
Price Action: Homebuilders slid into Wednesday&#8217;s mid-day trading.
<ul>
<li>D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) slipped 0.86% to $193.67 </li>
<li>Pulte Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) declined 0.41% to $139.88</li>
<li>NVR, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) went down 0.34% to $9,542.99</li>
</ul>
Exchange-traded funds that hold homebuilder stocks showed gains and losses.
<ul>
<li>IShares U.S. Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) declined 0.57%</li>
<li>Direxion Daily Homebuilders &amp; Supplies Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NAIL#NYSE">NAIL</a>) fell 1.8%</li>
<li>Pacer US Cash Cows Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUL#NYSE">BUL</a>) gained 0.2%</li>
</ul>
Read Now:
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<li>&#8216;<a href="https://www.benzinga.com/real-estate/24/08/40666981/the-time-has-come-to-adjust-cheaper-mortgage-rates-could-be-just-weeks-away-but-it-all-hinges-on-thi">The Time Has Come to Adjust&#8217; — Cheaper Mortgage Rates Could Be Just Weeks Away, But It All Hinges On This Data</a></li>
</ul>
Image: Shutterstock

Federal Reserve

ETFs

Real Estate

iShares Dow Jones US Homenstruction Index Fund

NAIL

Single-Family Housing Starts Are Up As Mortgage Rates Decline, Fed Eyes Lower Rates

Prospective homebuyers are holding off on<a href="https://www.benzinga.com/real-estate/24/06/39465243/u-s-home-sales-decline-for-third-month-as-record-prices-pose-persistent-affordability-challenges-dur"> buying new homes</a> as they bet on mortgage rates falling further, causing slow home sales, according to builders.
And why wouldn&#8217;t they wait?
In the week ending Aug. 23, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $766,550 slipped from <a href="https://finance.yahoo.com/news/mortgage-rates-hit-17-month-200029576.html?fr=yhssrp_catchall">6.5% to 6.44%</a>. This marks the lowest level since April 2023 and the fourth consecutive week of rate declines, according to the Mortgage Bankers Association (MBA).
Read Also: <a href="https://www.benzinga.com/real-estate/24/08/40629862/where-billionaires-are-snapping-up-homes-in-2024-hint-no-fear-of-climate-disasters">Where Billionaires Are Snapping Up Homes In 2024 — Hint, No Fear Of Climate Disasters</a>
&#8220;As observed in recent weeks, despite lower rates, purchase applications have not moved much,&#8221; said Joel Kan, MBA's vice president and deputy chief economist. 
&#8220;Prospective homebuyers are staying patient now that rates are moving lower and for-sale inventory has started to increase.&#8221; 
Mortgage applications saw a modest increase of 0.5% from the previous week, according to the Mortgage Bankers Association's (MBA) Weekly Applications Survey.
Refinancing activity showed a slight decline. The Refinance Index fell by 0.1% from the prior week, though it remains 85% higher than the same week last year, reflecting a robust annual surge in homeowners looking to take advantage of the lower rates.
Adjustable-rate mortgages (ARMs) also saw a decrease in interest rates. The average contract interest rate for 5/1 ARMs fell to 5.98% from 6.25%, indicating some relief for borrowers seeking more flexible loan terms.
Existing home sales increased for the first time in five months as falling mortgage rates have convinced prospective buyers to take out loans. However, sales are still slow as homeowners with mortgage rates around 3% wait for rates to fall even further, according to the National Association of Home Builders (NAHB).
Total existing-home sales rose 1.3% to a seasonally adjusted annual rate of 3.95 million in July. This marks the first increase after four months of declines. On a year-over-year basis, sales were still 2.5% lower than a year ago.
&#8220;Despite these changes, sales remained sluggish and low inventory continued to push up median home prices,&#8221; the NAHB said on Monday.
Homeowners with lower mortgage rates have opted to stay put, avoiding trading existing mortgages for new ones with higher rates.
This &#8220;lock-in&#8221; trend is causing home prices to rise and holding back inventory, but this trend should reverse as mortgage rates keep declining, the NAHB said.
&#8220;Mortgage rates are expected to continue to decrease gradually, leading to increased demand (and unlocking more of the lock-in inventory) in the coming quarters,&#8221; it said.
Price Action: Mortgage companies moved modestly on Wall Street into Thursday&#8217;s mid-afternoon trading.
<ul>
<li>UWM Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UWMC#NYSE">UWMC</a>) declined 0.93% to $9.07</li>
<li>Rocket Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>), parent company of Rocket Mortgage, fell 1.79% to $19.21</li>
<li>Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) went up 0.45% to $40.13</li>
</ul>
Home builders also moved little on Thursday.
<ul>
<li>D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) fell 0.09% to $187.41</li>
<li>Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) gained 0.55% to $168.01</li>
<li>NVR, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) ticked up 0.22% to $9,049.14</li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/real-estate/24/08/40485633/kamala-harris-3-million-homes-promise-everything-else-wont-work-unless-we-have-more-supply-says-chie">Kamala Harris&#8217; 3 Million Homes Promise: &#8216;Everything Else Won&#8217;t Work Unless We Have More Supply,&#8217; Says Chief Economist</a></li>
</ul>
Image: Midjourney

UWMC

Homebuyers Turn Screws On Builders As Mortgage Rates Are Telegraphed To Fall

CVCO

Shares of household durable companies are trading higher following strong New Home Sales economic data for July. Also, the sector may be moving in sympathy with the market after Fed Chair Powell offered an optimistic U.S. economic outlook and indicated future rate cuts.

Shares of homebuilders are trading higher in sympathy with Toll Brothers, which reported better-than-expected Q3 financial results and issued guidance above estimates.

Toll Brothers, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tol#NYSE">TOL</a>) is scheduled to report third-quarter fiscal 2024&nbsp; (ended Jul 31, 2024) results on Aug 20, after the closing bell.
In the last reported quarter, the company&#39;s earnings missed the Zacks Consensus Estimate by 18.2%, but revenues beat the mark by 12.6%. Earnings and revenues increased 18.6% and 13.2% from the prior-year period, respectively.
On an encouraging note, earnings topped analysts&#39; expectations in three of the trailing four quarters and missed on another occasion, the average surprise being 12.9%.
<h3>Trend in Estimate Revision</h3>
The Zacks Consensus Estimate for the fiscal third-quarter earnings per share increased to $3.28 from $3.25 over the past 60 days. The said figure indicates a 12.1% decline from the year-ago EPS of $3.73.
The consensus mark for revenues is pegged at $2.7 billion, indicating 0.3% year-over-year growth.
<div class="chart_embed">
<h3>Toll Brothers Inc. Price and EPS Surprise</h3>
<img alt="Toll Brothers Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/6e/1723708230.png" style="height:294px; width:610px" title="" />
Toll Brothers Inc. price-eps-surprise | Toll Brothers Inc. Quote
</div>
<h3>Factors to Note</h3>
Toll Brothers&#39; fiscal third-quarter home sales are expected to have increased slightly from the year-ago reported level, given higher deliveries. Although higher mortgage rates will impact the volumes to some extent, low-existing homes for sale have been driving demand for new homes in the market. This tailwind is likely to have helped the company drive growth.
This apart, its focus on luxury move-up buyers, who already possess a residence and are looking to shift to larger and better homes, will somewhat contribute to the revenues. Toll Brothers has been enjoying greater pricing power than other homebuilding companies, as luxury homebuyers are less sensitive to price changes. The company has also been benefiting from the strategy of broadening its product lines, price points and geographies, along with spec sales.
On the fiscal second-quarter earnings call, TOL stated that it expects higher home deliveries within 2,750-2,850 units from 2,524 units delivered in the prior-year quarter (considering the midpoint) at an average price of $950,000-$960,000 (suggesting a decline from $1,059,100 a year ago).
Higher land, labor and raw material costs, along with high incentives, are expected to put pressure on the fiscal third-quarter margins. Toll Brothers expects the adjusted home sales gross margin to be 27.7%, implying a decrease from 29.3% reported in the year-ago period. SG&amp;A expenses are estimated to be 9.2% of home sales revenues, indicating a rise from 8.6% reported in the year-ago period. The company expects the effective tax rate to be 26%. 
Our Estimates 
Our model predicts home sales revenues to decline 0.7% year over year to $2.66 billion due to a lower ASP projection of $955,300 (down 9.9% year over year). We expect deliveries to grow 10.1% year over year to 2,779 units in the quarter.
We expect net signed contracts to be around 2,904 units, indicating an improvement of 29.3% from the prior-year reported figure.
Our model predicts a backlog of 7,217 units, indicating a decline of 1.1% from the year-ago period. The same for the backlog (in values) is pegged at $7.57 billion, implying a decline of 3.9% from the $7.87 million recorded at the third quarter of fiscal 2023-end.
<h3>What Our Quantitative Model Predicts</h3>
Our proven model does not conclusively predict an earnings beat for Toll Brothers this time around. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. Unfortunately, this is not the case here, as you will see below.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00%. You can uncover the best stocks to buy or sell before they&#39;re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
<h3>Peer Releases</h3>
Meritage Homes Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mth#NYSE">MTH</a>) reported impressive second-quarter 2024 results, wherein the earnings and total closing revenues topped the Zacks Consensus Estimate and grew year over year.
MTH&#39;s quarterly results were backed by resilient housing demand and the company&#39;s progress in delivering quick-turning and affordable move-in-ready homes. Meritage Homes now expects 14,750-15,500 home closings for the year, up from the prior expected range of 14,500-15,000. The closings are now likely to generate revenues between $6.1 billion and $6.3 billion, up from the priorly expected range of $6-$6.2 billion.
NVR, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvr#NYSE">NVR</a>) reported mixed second-quarter 2024 results, with earnings missing the Zacks Consensus Estimate while Homebuilding revenues surpassed the same. On the other hand, both metrics increased on a year-over-year basis.
The upside was backed by improved demand trends, which resulted in higher settlements. Although the cancelation rate increased during the second quarter, growth in new orders and increased ASP of new orders are encouraging for the company&#39;s prospects. Settlements in the quarter were up 11% year over year to 5,659 units. New orders increased 3% from the prior-year quarter&#39;s level to 6,067 units. On a unit basis, backlog at the end of Jun 30, 2024, improved 3% from the prior-year quarter&#39;s figure to 11,597 homes and 6% on a dollar basis to $5.45 billion.
PulteGroup Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/phm#NYSE">PHM</a>) reported stellar results in the second quarter of 2024, wherein earnings and revenues handily beat the Zacks Consensus Estimate. On a year-over-year basis, both the bottom and top lines increased.
PHM saw significant benefits from key factors that drove its success. The company&#39;s balanced operating model resulted in increases in closings, average sales price and gross margin, which collectively led to a 19.3% increase in EPS. Effective management of sales price, pace and starts on a community-by-community basis enabled the company to achieve high returns on invested capital and equity, evidenced by a 27.1% return on equity over the past 12 months.
<a href="https://www.zacks.com/stock/news/2322401/toll-brothers-tol-to-post-q3-earnings-what-s-in-the-cards?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2322401">To read this article on Zacks.com click here.</a>

Large Cap

Mid Cap

Toll Brothers' to Post Q3 Earnings: What's in the Cards?

GRMN

KOSS

NVFY

YHGJ

Shares of household durable companies are trading lower amid overall market weakness on US economic concerns.

NVR, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvr#NYSE">NVR</a>) reported mixed second-quarter 2024 results, with earnings missing the Zacks Consensus Estimate while Homebuilding revenues surpassed the same. On the other hand, both metrics increased on a year-over-year basis.
The upside was backed by improved demand trends, which resulted in higher settlements. Although the cancellation rate increased during the quarter, growth in new orders and increased average selling price (&quot;ASP&quot;) of new orders are encouraging for the company&#39;s prospects.
Shares of this leading homebuilder inched down 0.5% during the Jul 23 trading session.
<h3>Inside the Numbers</h3>
The company reported earnings of $120.69 per share, which marginally missed the Zacks Consensus Estimate of $121.65 by 0.8%. The reported figure increased 3.6% from the prior-year quarter&#39;s earnings of $116.54 per share.
<div class="chart_embed">
<h3>NVR, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="NVR, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/a0/1721831138.png" style="height:265px; width:605px" title="" />
NVR, Inc. price-consensus-eps-surprise-chart | NVR, Inc. Quote
Homebuilding revenues of $2.55 billion topped the consensus mark of $2.48 billion by 2.7%. Consolidated revenues (Homebuilding &amp; Mortgage Banking fees combined) amounted to $2.61 billion, up 12% on a year-over-year basis.
</div>
<h3>Segment Details</h3>
Homebuilding: The segment&#39;s revenues of $2.55 billion grew 12% from the year-ago quarter. Settlements in the quarter were up 11% year over year to 5,659 units. Our model predicted settlements to increase 8% year over year to 5,492 units. The ASP for the settlements was $450,200, flat year over year. Our estimate was in line with the reported value for the metric.
The gross margin contracted 70 basis points year over year to 23.6%. Our estimate for the metric was 24.3%.
New orders increased 3% from the prior-year quarter&#39;s levels to 6,067 units. The ASP of new orders increased 3% from the prior-year quarter&#39;s figure to $458,800. Our model predicted the ASP of new orders to increase 2.6% year over year to $458,700. The cancellation rate was 12.9%, up from 10.9% a year ago.
On a unit basis, backlog at the end of Jun 30, 2024, improved 3% from the prior-year quarter&#39;s figure to 11,597 homes and rose 6% on a dollar basis to $5.45 billion.
The average active communities were 433 during the quarter, up from 426 reported a year ago.
Mortgage Banking: Mortgage banking fees increased 18.3% year over year to $64.6 million. Mortgage closed loan production totaled $1.53 billion, up 11% year over year. The capture rate was flat year over year at 86%.
<h3>Financials</h3>
As of Jun 30, 2024, NVR had cash and cash equivalents for Homebuilding and Mortgage Banking of $2.44 billion and $31.1 million compared with $3.13 billion and $36.4 million, respectively, at 2023-end.
During the second quarter, NVR repurchased 83,168 shares for $639 million. At June 2024 end, the company had 3,090,266 shares outstanding.
<h3>Zacks Rank &amp; Recent Peer Releases</h3>
NVR currently has a Zacks Rank #2 (Buy).
PulteGroup Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/phm#NYSE">PHM</a>) reported stellar results for the second quarter of 2024, wherein earnings and revenues handily beat the Zacks Consensus Estimate. On a year-over-year basis, the top and bottom lines increased.
PHM saw significant benefits from key factors, which drove its success. The company&#39;s balanced operating model resulted in increases in closings, average sales price and gross margin, which collectively led to a 19.3% increase in earnings per share. Effective management of sales price, pace and starts on a community-by-community basis enabled the company to achieve high returns on invested capital and equity, evidenced by a 27.1% return on equity over the past 12 months.
D.R. Horton, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dhi#NYSE">DHI</a>) reported third-quarter fiscal 2024 (ended Jun 30, 2024) results, with earnings and revenues surpassing Zacks Consensus Estimate. On a year-over-year basis, both the top and bottom lines increased.
DHI now expects consolidated revenues in the range of $36.8-$37.2 billion versus the prior expectation of $36.7-$37.7 billion. The company reported $35.5 billion in revenues in fiscal 2023. Homes closed are anticipated within 90,000-90,500 units versus 89,000-91,000 units expected earlier.
KB Home (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kbh#NYSE">KBH</a>) reported impressive results for the second quarter of fiscal 2024 (ended May 31, 2024). Both earnings and revenues beat the Zacks Consensus Estimate. Shares of this leading homebuilder rose 2.2% in the after-market trading session on Jun 18.
On an encouraging note, KB Home&#39;s earnings increased on a year-over-year basis despite a revenue decline. Leveraging the advantages of its Built to Order model, which provides buyers with choices, flexibility and affordability, the company is confident in its ability to effectively navigate potential fluctuations in housing market conditions.
<a href="https://www.zacks.com/stock/news/2308092/nvr-stock-down-on-q2-earnings-miss-homebuilding-revenues-top?cid=CS-BENZ-FT-analyst_blog|earnings_article-2308092">To read this article on Zacks.com click here.</a>

Earnings Misses

NVR Stock Down on Q2 Earnings Miss, Homebuilding Revenues Top

Costco Wholesale Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) share price has been on a remarkable ascent, trading above $800. This puts the retail giant in prime stock-split territory.
Historically, stock splits occur after substantial price increases, and Costco&#8217;s impressive growth makes it a noteworthy candidate for such a move.
<h3 class="wp-block-heading">Will Costco Follow Rival Walmart&#8217;s Footsteps?</h3>
Walmart Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) 3-for-1 stock split, initiated when its shares were trading below $200, sets a precedent. Costco&#8217;s stock price has far surpassed this level, climbing nearly 30% year-to-date and almost tripling over the past five years. The company's consistent performance and its share price near record highs suggest it could follow Walmart's example.
Related: <a href="https://www.benzinga.com/news/24/01/36857206/walmart-announces-3-for-1-stock-split-the-details">Walmart Announces 3-For-1 Stock Split: The Details</a>
<h3 class="wp-block-heading">Financials Bolster Future Outlook</h3>
Costco's revenue growth remains robust. The company reported a 6.9% increase in net sales for the first 44 weeks of the year and a 5.3% rise in June's comparable sales. E-commerce continues to grow at a double-digit rate, bolstering the company's financial outlook. 
Moreover, Costco's recent <a href="https://www.benzinga.com/news/24/07/39728606/whats-going-on-with-costco-stock-thursday">decision to raise</a> its annual membership fee by $5 indicates confidence in continued growth without alienating its customer base.
Read Also: <a href="https://www.benzinga.com/insights/news/24/07/39933373/heres-how-much-100-invested-in-costco-wholesale-5-years-ago-would-be-worth-today">Here&#8217;s How Much $100 Invested In Costco Wholesale 5 Years Ago Would Be Worth Today</a>
<h3 class="wp-block-heading">Is A Costco Stock Split Eminent?</h3>
Despite these indicators, Costco has not split its stock since 2000, when shares were valued below $100. A stock split would make shares more accessible to a broader range of investors, potentially spurring further interest and investment. The question remains whether Costco will act soon or hold off until the stock price hits $1,000 or more.
A stock split could attract more attention and help Costco maintain its market leadership. However, some argue that a high share price alone isn&#8217;t a strong enough reason for a split. Companies like NVR Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) have high stock prices but haven&#8217;t split their shares.
Ultimately, whether Costco opts for a stock split or not, its impressive financial performance and strong market position make it a solid long-term investment.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39938160/8-tesla-analysts-size-up-margins-fsd-robotaxis-new-evs-as-stock-tanks-the-realities">8 Tesla Analysts Size Up Margins, FSD, Robotaxis, New EVs As Stock Tanks: &#8216;The Realities Of Today Vs. The Dreams Of Tomorrow&#8217;</a></li>
</ul>

Long Ideas

COST

Costco Is In Prime Stock Split Territory: Will It Follow Walmart's Lead?

NVR (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvr#NYSE">NVR</a>) came out with quarterly earnings of $120.69 per share, missing the Zacks Consensus Estimate of $121.65 per share. This compares to earnings of $116.54 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -0.79%. A quarter ago, it was expected that this homebuilder would post earnings of $106.03 per share when it actually produced earnings of $116.41, delivering a surprise of 9.79%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
NVR, which belongs to the Zacks Building Products - Home Builders industry, posted revenues of $2.55 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.66%. This compares to year-ago revenues of $2.28 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
NVR shares have added about 23.4% since the beginning of the year versus the S&amp;P 500&#39;s gain of 16.7%.
What&#39;s Next for NVR?
While NVR has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for NVR: favorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $130.78 on $2.67 billion in revenues for the coming quarter and $494.69 on $10.12 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Home Builders is currently in the top 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Meritage Homes (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mth#NYSE">MTH</a>), is yet to report results for the quarter ended June 2024. The results are expected to be released on July 24.
This homebuilder is expected to post quarterly earnings of $5.17 per share in its upcoming report, which represents a year-over-year change of +3%. The consensus EPS estimate for the quarter has been revised 0.5% higher over the last 30 days to the current level.
Meritage Homes&#39; revenues are expected to be $1.58 billion, up 0.5% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2307003/nvr-nvr-lags-q2-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2307003">To read this article on Zacks.com click here.</a>

NVR Lags Q2 Earnings Estimates

NVR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVR#NYSE">NVR</a>) reported quarterly earnings of $120.69 per share which missed the analyst consensus estimate of $121.21 by 0.43 percent. This is a 3.56 percent increase over earnings of $116.54 per share from the same period last year. The company reported quarterly sales of $2.61 billion which beat the analyst consensus estimate of $2.51 billion by 3.98 percent. This is a 11.63 percent increase over sales of $2.34 billion the same period last year.

NVR Q2 Adj EPS $120.69 Misses $121.21 Estimate, Sales $2.61B Beat $2.51B Estimate

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Shares of household durable stocks are trading higher after store sales of building material and garden supplies rose 1.4% in June. Also, strength may be due to trader optimism that the Fed will cut rates.

NVR stock dips as decline in new orders weighs on Q3 results

BofA lowered the firm's price target on NVR (NVR) to $10,600 from $10,800 and keeps a Buy rating on the shares after the company reported Q3 EPS of...

NVR price target lowered to $10,600 from $10,800 at BofA

Companies in the Consumer Cyclical sector have received a lot of coverage today as analysts weigh in on Brunswick (BC – Research Report), H World G...

Analysts Offer Insights on Consumer Cyclical Companies: Brunswick (BC), H World Group (HTHT) and NVR (NVR)

NVR's (NVR) third-quarter results exhibited solid revenue growth and increasing orders. The company's long-term prospects appear bright with a rapidly growing population and steady financial performance. So, let's analyze whether this is the homebuilder's stock to buy now. Read more to find out... NVR, Inc. (<a href="https://stocknews.com/stock/NVR/">NVR</a>) is one of the largest homebuilding and mortgage banking companies in the U.S. The company operates through its Homebuilding and Mortgage Banking segments and engages in the construction and sale of single-family detached homes, townhomes, and condominium buildings under names like Ryan Homes, NVHomes, and Heartland Homes.
The company recently reported its third-quarter financial results. The company's revenues from the Homebuilding segment marked strong growth of 6.6% year-over-year to $2.68 billion. Its consolidated revenues for the nine months that ended September 30, 2024, were $7.68 billion, up 8% from the same period of 2023.
During the third quarter, NVR's new orders increased by 19% to 5,650 units, compared to 4,746 units in the third quarter of 2023, and the average sales price of new orders was $450,700. Further, settlements in the third quarter increased 5% to 5,908 units, from 5,606 units in the prior-year quarter, where the average settlement price was $453,200, up 1% year-over-year.
In September, the <a href="https://www.reuters.com/markets/us/us-single-family-homebuilding-rises-five-month-high-2024-10-18/">U.S. single-family homebuilding surged at 2.7%</a>, marking its five-month high, and building permits for single-family housing were also up. Also, the <a href="https://www.reuters.com/markets/us/us-home-builder-confidence-rises-second-straight-month-2024-10-17/">NAHB/Wells Fargo Housing Market Index</a> surged to 43 in the current month from 41 in September, indicating increasing confidence in the U.S. home builders.
Also, rapid global population growth, economic growth, and increasing disposable income of consumers are surging activities like acquisition and development of land, and construction and sale of residential homes. The residential building construction market is expected to reach around <a href="https://www.thebusinessresearchcompany.com/report/residential-building-construction-global-market-report">$5.80 trillion by 2028</a>, growing at a CAGR of 5.8%.
Moreover, the recently announced fed rate cuts will benefit the homebuilding sector and operations of NVR since prospective buyers who have been holding out for lower mortgage rates will now become active. This will also strengthen the company's market position and competitiveness.
Shares of NVR have gained 20.9% over the past six months and 71.4% over the past year to close its last trading session at $9438.35.
Let's look at factors that could influence NVR's performance in the upcoming months.
Recent Developments
On April 25, NVR signed an agreement with La Cité Development, a leading real estate development corporation, to address much-needed housing solutions by adding 180 units of single-family homes to a large-scale redevelopment of 32.94 acres in Poppleton, West Baltimore, for approximately $800 million.
This mixed-income development, representing an investment of $60 million, will consist of 48 condo units and 132 townhomes on seven acres.
Robust Financials
For the third quarter that ended September 30, 2024, NVR's Homebuilding revenues increased 6.6% year-over-year to $2.68 billion and its Mortgage banking fees were $55.31 million. Also, the company's homebuilding operating income grew marginally from the year-ago value to $510.52 million.
Furthermore, the company's net income and EPS came in at $429.32 million and $130.50 for the quarter, respectively.
As of September 30, 2024, NVR's cash and cash equivalents and total assets stood at $2.47 billion and $6.49 billion, respectively.
Solid Historical Growth
NVR's revenue grew at a CAGR of 4.2% over the past three years, while its EBITDA improved at a CAGR of 8.5%. Its <a href="https://www.investopedia.com/terms/e/ebit.asp">EBIT</a> increased at a CAGR of 8.7% over the same period, while the company's net income and EPS grew at respective CAGRs of 10.6% and 16.6% over the same time frame.
Furthermore, the company's tangible book value and levered free cash flow have grown at CAGRs of 12.5% and 24.3% over the past three years, respectively.
Favorable Analyst Estimates
Analysts expect NVR's revenue for the fourth quarter (ending December 2024) to come in at $2.83 billion, indicating an increase of 18.4% year-over-year, and its consensus EPS is expected to improve 8.4% year-over-year to $131.73 for the same period.
For the fiscal year (ending December 2024), the company's revenue is anticipated to grow 11.6% year-over-year to $10.40 billion, while its EPS is expected to grow 7.2% year-over-year to $496.77. Further, street expects NVR's revenue and EPS to grow 4.5% and 5.8% year-over-year to $10.86 billion and $525.64 for the fiscal year 2025, respectively.
Favorable Profitability
NVR's trailing-12-month EBIT margin of 19.98% is 149.3% higher than the 8.01% industry average. The stock's trailing-12-month net income margin of 15.90% is significantly higher than the industry average of 4.50%. And the stock's trailing-12-month levered FCF margin of 12.54% is 153.2% higher than the industry average of 4.95%.
Furthermore, the stock's ROCE, ROTC, and ROTA of 38.72%, 24.47%, and 25.19% favorably compares to the 11.37%, 6.18%, and 4.03% industry average, respectively.
POWR Ratings Appear Optimistic
NVR's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, translating to a Buy in our proprietary system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. NVR has an A grade for Momentum. The stock is trading above its 50-day and 200-day moving averages of $9,340.39 and $8,102.13, respectively.
The stock also has a B grade for Quality, consistent with its higher-than-industry profitability.
NVR is ranked #4 among the 22 stocks in the <a href="https://stocknews.com/category/homebuilders/">Homebuilders</a> industry.
Beyond what I have stated above, we have also given NVR grades for Stability, Growth, Sentiment, and Value. Get access to all the NVR ratings <a href="https://stocknews.com/stock/NVR/">here</a>.
Bottom Line
NVR reported better-than-expected earnings in the third quarter of fiscal 2024. Further, the company's long-term prospects appear promising, driven by its expanding product offerings, economic growth, and favorable government initiatives.
Given NVR's solid revenue growth, promising analysts' expectations, and favorable profitability, supported by the surrounding environment and widening avenues, it could be ideal to invest in this stock.
How Does NVR Inc. (NVR) Stack Up Against Its Peers?
While NVR has an overall POWR Rating of B, investors could also check out these other stocks within the <a href="https://stocknews.com/category/homebuilders/">Homebuilders</a> industry with A (Strong Buy) or B (Buy) ratings: M/I Homes, Inc. (<a href="https://stocknews.com/stock/MHO/">MHO</a>), Sekisui House Ltd. ADR (<a href="https://stocknews.com/stock/SKHSY/">SKHSY</a>), and TRI Pointe Group, Inc. (<a href="https://stocknews.com/stock/TPH/">TPH</a>).
For exploring more A and B-rated homebuilders stocks, <a href="https://stocknews.com/category/homebuilders/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
NVR shares were unchanged in after-hours trading Wednesday. Year-to-date, NVR has gained 34.44%, versus a 22.75% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/nvr-mho-skhsy-tph-is-now-the-time-to-buy-shares-of-nvr-as/>Is Now the Time to Buy Shares of NVR as Homebuilding Stocks Recover?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Now the Time to Buy Shares of NVR as Homebuilding Stocks Recover?

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Seaport Research analyst Kenneth Zener downgraded NVR (NVR) to Neutral from Buy without a price target target post the Q3 report. NVR's spot land a...

NVR downgraded to Neutral from Buy at Seaport Research

Meeting to be held at company headquarters in Reston, VA on November 13 hosted by BTIG. Published first on TheFly – the ultimate source for real-ti...

NVR management to meet with  BTIG

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Press Releases

NVR, INC. ANNOUNCES FOUNDER DWIGHT C. SCHAR AWARDED LIFETIME ACHIEVEMENT AWARD

NVR, INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR RESULTS

NVR, INC. ANNOUNCES SHARE REPURCHASE AUTHORIZATION

United Homes Group Announces Board of Directors Update

NVR, INC. ANNOUNCES FIRST QUARTER RESULTS

La Cité Development Signs Agreement with NVR Ryan Homes for Large-Scale Single-Family Home Ownership Development in West Baltimore

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