NVR, INC. ANNOUNCES SECOND QUARTER RESULTS
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NVR Inc. (NVR) PT Raised to $8,875 at JPMorgan
July 23, 2024 4:13 PM EDTJPMorgan analyst Michael Rehaut raised the price target on NVR Inc. (NYSE: NVR) to $8,875.00 (from $8,265.00) while maintaining a Neutral rating.
The analyst comments "Following NVRs 2Q24 results and our discussion with the company, we provide our key takeaways below. Overall, 2Q Reported EPS of $120.68 (including $2.05/share of tax benefits from stock option exercises) was below our $125.87E and the Streets $125.18. Downside to our estimate was led by a higher income tax rate (24.9% vs. our 20.0%E) representing $7.77/share, while lower gross margins (23.6% vs. our 24.0%E) and lower other... More
