NVR, IncNYSE: NVR
Consumer Discretionary · Homebuilding
$6,469.68
+3.09%
Vol: 19K
Research Digest
Friday, June 19, 2026
NVR Q1 2026 EPS of $67.76 misses the $79.97 estimate by 15% as revenue falls 22% and gross margin contracts to 19.6% amid housing market pressure.
NVR Inc. (NVR) reported Q1 2026 net income of $198.4 million, or $67.76 per diluted share, falling 29–34% from the prior year and missing the $79.97 consensus by approximately 15%. Consolidated revenues totaled $1.88 billion, a 22% decline from $2.40 billion in Q1 2025, also missing estimates of $2.10 billion. Gross margin compressed to 19.6% from 21.9% due to continued pricing pressure and higher lot costs. Mortgage closed loan production fell 27% to $1.05 billion. New orders were a bright spot, rising 7% to 5,738 units. The company's board authorized a new $750 million share repurchase program in February 2026. Shares have been holding above $6,100 on NYSE as investors watch for housing market recovery.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21NVR's board authorized a new $750M share repurchase program on May 8 even as Q1 earnings missed and analysts cut price targets amid weak homebuyer demand.Mixed▶
On May 8, 2026, NVR's board authorized a new repurchase program for up to $750 million of common stock with no expiration, continuing the long-running buyback strategy that began in 1994; as of May 7 the company had about 2.7M shares outstanding. The buyback comes after a weak Q1 2026 in which EPS of $67.76 missed consensus of $77.39 (a -12.5% surprise) and revenue and EPS fell roughly 22% and 29% YoY respectively on rising costs and softer buyer demand. In response, BTIG cut its price target to $8,096 (Buy) and Truist Securities lowered its target to $6,600 (Hold), citing gross margin pressure. Shareholders re-elected all directors at the annual meeting. Capital Research disclosed a 5.9% passive stake. Risk: homebuilder demand remains pressured and margins are being squeezed, even as the buyback supports per-share metrics.
May 20NVR authorized a $750M share repurchase program on May 8 amid Q1 EPS miss and housing market softness.Negative▶
On May 8, 2026, NVR's Board authorized the repurchase of up to $750 million of outstanding common stock with no expiration date, continuing the program that began in 1994. The buyback follows a difficult Q1 2026 with revenue down 22% and EPS down 29% YoY; Q1 EPS of $67.76 missed the $77.39 consensus. Capital Research Global Investors disclosed a 5.9% stake (162,965 shares). Truist lowered its PT to $6,600 (Hold) and BTIG cut to $8,096 (Buy) on margin concerns. As of May 13, NVR traded at $5,795.70 near its 52-week low. Risk: ongoing housing market weakness and gross margin pressure continue to weigh on earnings power.
May 19NVR Board authorizes $750M share repurchase as Capital Research discloses 5.9% stake amid housing-market headwindsMixed▶
NVR's Board of Directors authorized a new $750 million common stock repurchase with no expiration date, continuing a buyback program that began in 1994. A Schedule 13G filing showed Capital Research Global Investors built a 5.9% stake (162,965 shares of 2,778,119 outstanding as of March 31, 2026). The buyback comes against a backdrop of a 22% Q1 revenue decline and 29% drop in net income, with Q1 EPS of $67.76 missing consensus of $77.39. Truist Securities lowered its price target to $6,600 (Hold) citing gross margin concerns; BTIG cut its target to $8,096 while keeping a Buy. The stock traded at $5,795.7 on May 13, near the bottom of its 52-week range of $5,790.2-$8,618.3. Consensus 12-month target is roughly $7,070.
May 18NVR authorized a $750 million stock buyback on May 8 and disclosed a 5.9% Capital Research Global Investors 13G stake, even as the stock is down 21.8% YTD amid homebuilding pressures.Mixed▶
NVR Inc. announced on May 8, 2026 a new $750 million share repurchase authorization with no expiration date. A Schedule 13G filing showed Capital Research Global Investors built a 5.9% stake (162,965 shares). The stock has declined 21.8% YTD from $7,298.64 to about $5,710-$5,795 amid elevated interest rates, mortgage rate increases, and the Iran conflict weighing on builder demand. Q1 2026 EPS came in at $67.76, missing BTIG's estimate of $77.35 and consensus of $77.39, with revenue down 22% and net income down 29%. Market cap is $15.43B with a P/E of 13.93. Zacks Research raised earnings estimates on May 15.
May 15NVR announced $750 million share repurchase authorization on May 8 after Q1 revenue fell 22% and net income dropped 34%, with Truist cutting target to $6,600.Mixed▶
NVR, Inc. announced on May 8 a board authorization to repurchase up to $750 million of common stock with no expiration. The buyback comes after disappointing Q1 2026 results showing a 22% revenue drop and 34% decline in net income, with EPS of $67.76 missing consensus of $77.39. Truist Securities lowered its price target to $6,600 (Hold) citing gross margin concerns; BTIG cut its target to $8,096 while keeping a Buy rating. A BTIG survey indicated U.S. homebuilder demand weakened in March amid the Iran conflict and rising mortgage rates. NVR traded near $5,795.7 as of May 13. Risk: continued demand softness from mortgage rates and geopolitical uncertainty.
May 14NVR hits new 52-week low on May 13 as homebuilder pressures deepen despite $750M buyback authorizationNegative▶
NVR shares slid to a new 52-week low of $5,901 during mid-day trading on May 13, 2026, extending the stock's decline (down 12.44% over the past month). The weakness follows Q1 2026 results that revealed a 22% drop in revenue to $1.83B (vs $2.10B estimate) and a 34% net income decline, with EPS of $67.76 missing the $77.56 estimate. On May 8, 2026, NVR's board authorized a new $750 million share repurchase program with no expiration date to support shareholder returns while the housing market remains under pressure from rising costs and economic uncertainty. Consensus rating is Hold with an average 12-month price target of $7,070. Next earnings July 22, 2026. Risks: housing demand, mortgage rates, and order backlog deterioration.
May 13NVR authorized a $750 million share repurchase program on May 8 amid Q1 weakness with revenue down 22% and net income down 34%Mixed▶
NVR's Board of Directors authorized the repurchase of up to $750 million of outstanding common stock on May 8, 2026, with no expiration date, continuing a stock repurchase program that began in 1994. The buyback comes amid significant operational headwinds, as the homebuilder reported Q1 2026 revenue declining 22% and net income dropping 34%. Rising Treasury yields and mortgage rates have pressured demand across the homebuilder sector. The stock declined 12.44% over the past month, trading around $5,795.70 as of May 13, 2026. Analysts have a Hold consensus rating with a 12-month price target of $7,070. The buyback signals management's confidence despite near-term pressures.
May 12No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| DHIDR | $157.68 | +3.41% | -4.8% | 13.2x | 1.36 | $45.0B |
| PHMPULTEGROUP | $127.24 | +4.40% | -1.5% | 12.0x | 1.19 | $25.5B |
| LENLENNAR | $89.74 | +3.77% | -5.1% | 13.4x | 1.39 | $21.2B |
| NVRNVR | $6,469.68 | +3.09% | -0.2% | 16.1x | 0.90 | $18.2B |
| AMZNAMAZON.COM | $244.58 | +2.98% | +3.6% | 24.5x | 1.46 | $2.61T |
| TSLATESLA | $401.07 | +1.18% | +4.8% | 154.5x | 1.80 | $1.48T |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.