NVR (NVR) Declares Share Buyback Program

NVR (NYSE:NVR) declared that its board has authorized a stock repurchase program, which allows the company to buyback $300.00 million in shares on Wednesday, February 14th, EventVestor reports. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Several equities analysts recently weighed in on the company. Zacks Investment Research raised NVR from a “hold” rating to a “buy” rating and set a $3,218.00 price objective for the company in a research report on Tuesday. UBS Group boosted their price objective on NVR from $3,450.00 to $3,750.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. ValuEngine raised NVR from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Wells Fargo & Co reissued a “market perform” rating on shares of NVR in a research report on Friday, October 20th. Finally, Zelman & Associates raised NVR from a “hold” rating to a “buy” rating in a research report on Friday, October 20th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $3,064.50.

NVR (NYSE NVR) traded down $23.41 during midday trading on Thursday, hitting $3,036.60. The company had a trading volume of 32,048 shares, compared to its average volume of 36,557. NVR has a fifty-two week low of $1,876.27 and a fifty-two week high of $3,700.00. The company has a quick ratio of 1.67, a current ratio of 3.62 and a debt-to-equity ratio of 0.37. The firm has a market cap of $10,759.36, a PE ratio of 23.76, a PEG ratio of 1.01 and a beta of 0.54.

NVR (NYSE:NVR) last posted its quarterly earnings data on Thursday, January 25th. The construction company reported $43.41 earnings per share for the quarter, missing the consensus estimate of $48.95 by ($5.54). NVR had a return on equity of 38.72% and a net margin of 8.70%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the firm posted $37.80 EPS. NVR’s revenue for the quarter was up 3.6% on a year-over-year basis. sell-side analysts predict that NVR will post 188.66 earnings per share for the current fiscal year.

In related news, Director Eddie Arthur Grier sold 400 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $2,968.07, for a total transaction of $1,187,228.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 11.30% of the company’s stock.

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NVR Company Profile

NVR, Inc is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. The Company’s segments are Homebuilding Mid Atlantic, Homebuilding North East, Homebuilding Mid East, Homebuilding South East and Mortgage Banking. Its Homebuilding Mid Atlantic segment operates in various geographic regions, which include Maryland, Virginia, West Virginia, Delaware and Washington, District of Columbia (DC).

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