NVR (NVR) reported earnings 30 days ago. What's next for the stock?
NVR (NVR) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
The second-quarter 2024 results of NVR reflect strong housing demand evidenced by increased settlements and new order growth. Yet, increased income tax expenses and cost of sales mar the bottom line.
NVR (NVR) 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.
NVR's second-quarter 2024 performance is likely to have benefited from an improving housing backdrop and a solid business model.
D.R. Horton, KB Home NVR, PulteGroup and Toll Brothers are included in this Analyst Blog.
Although NVR stock slightly underperformed the broader market since my initial coverage, business drivers remain strong. Factors such as high mortgage rates, housing shortage, and potential interest rate cuts contribute to a favorable environment for NVR's medium-term performance. I believe the stock is undervalued compared to the company's potential, leading to the reiteration of my "Buy" rating.
NVR (NVR) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.
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NVR, Inc. is a homebuilder operating in 36 metropolitan areas across 16 U.S. states. The company operates under three different banners: Ryan Homes, NVHomes, and Heartland Homes, targeting different markets and offering various types of homes. NVR's asset-light operating model and strategic purchasing of finished building lots give the company flexibility, reduce risk, and boost return on capital.