NVR (NVR) is Initiated by Wells Fargo to Market Perform

NVR (NVR) was Initiated by Wells Fargo to “Market Perform”. Wells Fargo advised their investors in a research report released on Sep 29, 2016.

On the company’s financial health, NVR reported $22.01 EPS for the quarter, missing the analyst consensus estimate by $ -4.18 based on the information available during the earnings call on Jul 21, 2016. Analyst had a consensus of $26.19. The company had revenue of $1388.00 million for the quarter, compared to analysts expectations of $1389.67 million. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $21.91 EPS.

NVR closed down -2.27 points or -0.14% at $1644 with 19,171 shares getting traded on Tuesday. Post opening the session at $1649.2, the shares hit an intraday low of $1639.6 and an intraday high of $1653 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Aug 8, 2016, Manuel H Johnson (director) sold 121 shares at $1,699.19 per share price. According to the SEC, on May 23, 2016, Jeffrey D Martchek (President of Homebuilding Ops) sold 750 shares at $1,695.00 per share price. On May 9, 2016, Alfred E Festa (director) sold 1,592 shares at $1,625.00 per share price, according to the Form-4 filing with the securities and exchange commission.

NVR Inc. is engaged in the construction and sale of single-family detached homes townhomes and condominium buildings. The Company also operates a mortgage banking and title services business through its wholly owned subsidiary NVR Mortgage Finance Inc. (NVRM). The Company provides single-family detached homes townhomes and condominium buildings with basic home designs. The Company’s home building activities combine traditional transitional cottage or urban exterior designs with contemporary interior designs and amenities which include two to four bedrooms and range from approximately 800 to 7300 square feet. The Company provides mortgage related services to home building customers through mortgage banking operations. The mortgage banking operations include separate subsidiaries that broker title insurance and perform title searches in connection with mortgage loan closings for which they receive commissions and fees.


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