NSANY - Nissan Motor Co., Ltd.

Other OTC - Other OTC Delayed Price. Currency in USD
9.45
-0.49 (-4.97%)
At close: 3:59PM EST
Stock chart is not supported by your current browser
Previous Close9.95
Open9.49
Bid0.00 x 0
Ask0.00 x 0
Day's Range9.43 - 9.49
52 Week Range9.43 - 17.39
Volume243,425
Avg. Volume146,916
Market Cap18.31B
Beta (5Y Monthly)1.01
PE Ratio (TTM)2.84
EPS (TTM)3.33
Earnings DateN/A
Forward Dividend & Yield0.36 (3.86%)
Ex-Dividend DateSep 25, 2019
1y Target Est10.31
  • Renault posts loss, Nissan shares tumble
    Reuters Videos

    Renault posts loss, Nissan shares tumble

    Nissan shares fell to their lowest in 10 and a half years on Friday (February 14) tumbling nearly 10 percent after the struggling auto maker cut its annual profit forecast It also said it would not pay a dividend in the second half. Japan's No.2 car maker has been shaken by the scandal surrounding former boss Carlos Ghosn. The crisis has been compounded by worsening sales and a brand image tarnished by years of heavy discounting in the U.S. and other markets. On Thursday Nissan posted its first quarterly net loss in nearly a decade. The dividend cut will be particularly painful for top shareholder Renault. On Friday the French carmaker, in turn, posted its first loss in 10 years for 2019 and set a lower operating margin goal for 2020. It's a crunch year for Renault's planned reboot of its alliance with Nissan. The company is grappling with tumbling auto demand in some key markets like China. Adding further pressure, Renault has a factory in China's Wuhan, the epicentre of the coronavirus epidemic. It's in lockdown to contain the spread of the virus. It has also suspended operations for at least four days at its South Korean subsidiary due to supply chain hiccups. Renault made an annual loss of $153 million in 2019. And group sales fell 3.3%.

  • Nissan slashes profit forecast after sales slump
    Reuters Videos

    Nissan slashes profit forecast after sales slump

    Makoto Uchida is Nissan's third chief executive since September. And he's got a big job on his hands: (SOUNDBITE) (Japanese) NISSAN MOTOR'S CEO, UCHIDA MAKOTO, SAYING: "Unfortunately, the recent decline in sales and the downturn of business performance that followed was worse than we were expecting." The Japanese automaker on Thursday (February 13) posted its first quarterly loss in a decade, and slashed its annual profit forecast by 43%. It now expects operating income of just 775 million dollars, way below analyst forecasts. Nissan has been hit by a worldwide slump in sales. They were down 11% in the October-December period. In the U.S. the drop was more like a fifth, while in China shipments look set to hit a seven-year low. Then, of course, there's the turmoil that followed the ousting of former boss Carlos Ghosn. He fled Japan while awaiting trial on charges of financial misconduct, all of which he denies. Now Nissan plans to step up restructuring: SOUNDBITE) (Japanese) NISSAN MOTOR'S CEO, UCHIDA MAKOTO, SAYING: "We are now working on additional measures for short-term recovery. This includes moving up plans and further utilizing alliances and partnerships." Reuters sources say at least 4,300 white-collar jobs and two plants will go as part of cost savings. Nissan will also reportedly cut the number of models, trims and options on offer, and reduce marketing expenditure. The company says its full-year dividend will be barely a sixth of last-year's payout.

  • Clock's ticking for Nissan boss Uchida to show he has a plan - sources
    Reuters

    Clock's ticking for Nissan boss Uchida to show he has a plan - sources

    Nissan's new CEO Makoto Uchida doesn't have time to work his way into the job. The pressure intensified on Thursday when Nissan, which has had a year of turmoil since the arrest and sacking of long-time leader Carlos Ghosn, posted its first quarterly net loss in nearly a decade and slashed its annual profit forecast. One of the people familiar with the intentions of some on Nissan's 10-member board said an assessment of Uchida's efforts and a decision on his future would likely be made toward the middle of the year.

  • Clock's ticking for Nissan boss Uchida to show he has a plan: sources
    Reuters

    Clock's ticking for Nissan boss Uchida to show he has a plan: sources

    Nissan's new CEO Makoto Uchida doesn't have time to work his way into the job. The pressure intensified on Thursday when Nissan, which has had a year of turmoil since the arrest and sacking of long-time leader Carlos Ghosn, posted its first quarterly net loss in nearly a decade and slashed its annual profit forecast. One of the people familiar with the intentions of some on Nissan's 10-member board said an assessment of Uchida's efforts and a decision on his future would likely be made toward the middle of the year.

  • Coronavirus update: 1,383 deaths, more than 63,000 sickened, Expedia predicts impact beyond Q1
    MarketWatch

    Coronavirus update: 1,383 deaths, more than 63,000 sickened, Expedia predicts impact beyond Q1

    There are more than 63,000 cases of COVID-19, the novel coronavirus that was first identified in December in Wuhan, China, and 1,383 deaths, according to the World Health Organization.

  • Barrons.com

    Renault Post First Loss in a Decade as Nissan Woes and Weak Demand Hit Earnings

    Renault suffered its first annual loss in a decade last year, as margins fell and the French auto maker felt the impact of Nissan’s troubles.

  • Renault plans $2.2 billion 'no taboos' cost cutting after first loss in a decade
    Autoblog

    Renault plans $2.2 billion 'no taboos' cost cutting after first loss in a decade

    Renault's first loss in a decade triggered a no-taboos commitment on Friday to cut costs by 2 billion euros ($2.2 billion) over the next three years as the automaker tries to put the Carlos Ghosn affair behind it. As ex-Volkswagen brand manager Luca de Meo prepares to take over as chief executive of the French automaker, which has been rocked by the Ghosn scandal, it did not exclude job cuts in a promised review of its performance across all factories. Like many auto industry rivals, including its alliance partner Nissan, Renault is grappling with tumbling demand in key markets like China, and said it expects the sector to be hit further this year, including in Europe.

  • Renault plans $2.2 billion 'no taboos' cost cuts after first loss in a decade
    Reuters

    Renault plans $2.2 billion 'no taboos' cost cuts after first loss in a decade

    Renault's first loss in a decade triggered a no-taboos commitment to cut costs by 2 billion euros ($2.2 billion) over the next three years from the carmaker on Friday, as it tries to put the Carlos Ghosn affair behind it. As ex-Volkswagen brand manager Luca de Meo prepares to take over as chief executive of the French automaker, which has been rocked by the Ghosn scandal, it did not exclude job cuts in a promised review of its performance across all factories. Like many auto industry rivals, including its alliance partner Nissan, Renault is grappling with tumbling demand in key markets like China, and said it expects the sector to be hit further this year, including in Europe.

  • Benzinga

    Asia Markets Mixed As Coronavirus Cases Rise, Mobile World Congress Canceled

    China confirmed 5,090 new cases of the virus by the end of Thursday with 121 new deaths, according to the state-run Xinhua News Agency. The total number of confirmed cases in China alone have crossed 63,851 people at least. Meanwhile, less than a day after Japan confirmed its first death from the coronavirus, a doctor-to-patient transmission is suspected, as reported by the Straits Times.

  • Renault Looks to Cut Costs After Slashing Dividend, Posting Loss
    Bloomberg

    Renault Looks to Cut Costs After Slashing Dividend, Posting Loss

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Renault SA moved to reassure investors by dangling the prospect of cost cuts and assets sales after posting its first annual loss in a decade and slashing its payout to shareholders.The French carmaker, suffering from slumping sales in key markets and a dismal performance at partner Nissan Motor Co., will conduct a review of its Chinese assets and explore plant closures to rein in costs, acting Chief Executive Officer Clotilde Delbos told reporters at a press conference near Paris Friday.“Considering the situation of the global market and considering that we maybe had too much capacity for volume goals that were higher than what we have today, we don’t exclude any taboo, whether in the world or in France,” Delbos said.The stock rose as much as 4% following her remarks, more than reversing its earlier plunge to a seven-year low in the wake of the carmaker’s disappointing annual results.Renault and Nissan, linked in an uneasy alliance for the past two decades, have been dogged by infighting and instability since the arrest of former leader Carlos Ghosn 15 months ago. While Renault last month picked former Volkswagen AG executive Luca de Meo as its new CEO, he doesn’t start until July.In the meantime, Renault will press ahead with a plan to trim structural costs by at least 2 billion euros ($2.2 billion) over three years, Delbos said, adding the company doesn’t have the “luxury” of waiting for De Meo’s arrival.Nissan ImpactNissan’s decision to scrap its year-end dividend represented a big financial hit for Renault, which owns 43% of the Japanese carmaker. The French company will cut its own payout by more than two-thirds to 1.10 euros a share, the lowest level since 2011.Renault lowered its guidance for 2019 revenue and profit in October, saying weakening economies weighed on car sales in key markets while tougher rules on emissions pushed up costs. A deteriorating performance at Nissan has also hit results. Its contribution to Renault’s results plunged to 242 million euros last year from 1.51 billion euros the year before.Read more: Nissan Is Worth Less Than Subaru After Shares PlummetWhen De Meo takes the helm, he’ll join Chairman Jean-Dominique Senard in trying to shore up Renault’s at times acrimonious relationship with Nissan. Sorting out their differences is crucial as automakers face the costly and uncertain transition to electric vehicles.For 2020, the carmaker sees annual revenue in line with 2019, leaving aside currency swings, and a group operating margin of between 3% and 4%. It also forecasts positive automotive operating free cash flow before restructuring expenses, while adding that expected volatility in Europe in light of new emissions rules and the potential impact of the coronavirus cloud the outlook.What Bloomberg Intelligence Says:Renault’s guidance for 2020 is disappointing and below our expectations, with a 25% cut in consensus operating profit estimates needed to meet the midpoint of new 3-4% margin guidance vs. the 4.8% in-line result in 2019. The 70% cut in Renault’s dividend is less of a surprise after Nissan cut its dividend to zero. Indeed, Renault pays out the whole dividend received from Nissan to shareholders that amounted to 86% of Renault’s dividend last year.\-- Michael Dean, BI automotive analystThe coronavirus outbreak, centered in the key Chinese auto-making region of Hubei, forced Renault to halt production at a Korean plant for four days this week, and more stoppages are possible -- even at European plants -- because of parts shortages, Delbos said.“The problem is we have no visibility, and I don’t think anybody has any visibility, of the real impact,” she said.Get more:See statementFY revenue 55.5 billion euros vs 55.4 billion-euro estimateFY group operating margin 4.8% vs 6.3% in 2018FY positive automotive operational free cash flow 153 million eurosRenault books a 753 million-euro charge related to the discontinuation of the recognition of deferred tax assets on tax losses in FranceFY net income group share falls to loss of 141 million euros vs profit of 3.3 billion euros in 2018\--With assistance from Caroline Connan.To contact the reporter on this story: Angelina Rascouet in London at arascouet1@bloomberg.netTo contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Frank Connelly, Andrew NoëlFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Nissan's South Korean unit planning voluntary redundancies: source
    Reuters

    Nissan's South Korean unit planning voluntary redundancies: source

    Nissan Motor Co's South Korean unit plans to seek applications for voluntary redundancy, a person with knowledge of the matter said on Friday, as the automaker's shares sank to their lowest in more than a decade. Nissan on Thursday cut its annual operating profit forecast by 43%. Sources said plans to slash jobs, close manufacturing sites and drop products have been already prompted, as the automaker steps back from an aggressive pursuit of market share championed by former leader Carlos Ghosn.

  • Benzinga

    Nissan Shares Tumble To Decade Low After Q3 Earnings Miss

    Nissan, on Thursday, reported a net loss of $238 million for the third quarter of the year that ended in December. Nissan also revised its net profit forecast for the whole year to 65 billion, down 41% from the earlier 110 billion forecasted in November. The turnaround plans of the automaker, already engulfed in a scandal involving former chairman Carlos Ghosn, are further affected by the spread of the novel coronavirus in its largest market, China.

  • Financial Times

    Renault’s profits close to wipeout as margins are hit

    Renault’s profits were nearly wiped out last year as it faced falling margins in its core business and a collapse in income from its alliance partner Nissan. Contributions from Nissan, which Renault owns through its 43 per cent shareholding, dropped 84 per cent to €242m last year from €1.5bn in 2018. Margins in Renault’s core auto business fell to 2.8 per cent in 2019 from 4.3 per cent in 2018.

  • Nissan shares tumble to ten-and-a-half year low after earnings rout; Renault also suffers
    Reuters

    Nissan shares tumble to ten-and-a-half year low after earnings rout; Renault also suffers

    Shares of Nissan Motor Co sank to their lowest in more than a decade on Friday, after deep cuts to the troubled Japanese automaker's earnings forecast and dividend raised questions about its future profitability. Japan's No.2 automaker is reeling from a scandal surrounding former chairman Carlos Ghosn that has also had a knock-on effect on its French partner Renault SA, shares of which hit their lowest in more than seven years after it earlier posted its first annual loss in a decade. Nissan on Thursday posted its first quarterly net loss in almost ten years and warned that full-year operating profit would be its weakest in 11 years.

  • Nissan’s Slumping Profit, Dividend Foreshadow Renault Decline
    Bloomberg

    Nissan’s Slumping Profit, Dividend Foreshadow Renault Decline

    (Bloomberg) -- Nissan Motor Co.’s efforts to halt declines in key markets are faltering, forcing the automaker to cut its full-year profit outlook a second time and scrap its year-end dividend to investors, including top shareholder and partner Renault SA.The earnings sent the French carmaker’s shares down to their lowest intraday level in seven years and highlighted the companies’ inter-dependence. Renault, which owns 43% of Nissan and relies on its dividends, is expected to report weaker 2019 earnings and a cut to its own payout on Friday compared with the previous year.The partners have been dogged by instability in their most senior management ranks over the past 15 months following the arrest of former Chairman Carlos Ghosn. Nissan on Thursday reduced its full-year operating profit forecast to 85 billion yen ($774 million) from an earlier estimate of 150 billion yen, as the manufacturer faces falling sales in the U.S., Japan and Europe.By slashing its dividend payment to the lowest level since 2011 and pursuing a previously announced plan to cut 12,500 jobs globally, Nissan is trying to free up cash for investment in next-generation technology needed to stay competitive in areas such as electric vehicles and self-driving cars.“Unfortunately, our business performance has worsened more than we anticipated, and there’s no letting up on investing in the future,” Chief Executive Officer Makoto Uchida said at a press conference at the company’s Yokohama headquarters. “In order to invest in growth, we ended up with this dividend.”The results and outlook underscore the challenges facing Uchida, who took over as CEO in December and promised to unveil a revised midterm plan in May for Nissan and its two-decade alliance with Renault, which itself recently appointed a new CEO.Recession-Level DividendThe shares of Renault fell as much as 3.8% before regaining some ground to trade 0.6% lower at 34.60 euros by 5:03 p.m. in Paris. Nissan shares fell 1.5% to close at 568.5 yen before the earnings release, but after a report foreshadowing the poor results.What Bloomberg Intelligence Says:‘Nissan’s worse than expected 3Q result and dividend will clearly have a knock on effect on Renault’s own pre-tax result and dividend payout, but the key task going forward for the two new CEOs is to provide an update of their 5-year plans and put in place a recovery strategy for Nissan.’\-- Michael Dean, senior European auto analystNissan had initially projected an operating profit of 230 billion yen for the fiscal year through March, but trimmed that last quarter. A year ago, it earned 318 billion yen — which at the time marked its lowest annual income in a decade.Nissan’s total dividend for the current fiscal year is on track to be 10 yen a share, including the prior payout. In November, the Japanese company withdrew its dividend outlook after cutting it in May — the first reduction since it suspended dividends in 2009 amid an industrywide recession.Executives sought to downplay concern about its negative free cash flow, which ballooned to minus 256 billion yen last quarter compared with minus 70 billion yen a year ago.Rakesh Kochhar, a senior vice president in charge of global treasury and automotive sales finance operations, told reporters that liquidity isn’t an issue. “If we need to borrow more money we can do so, and at the right time we will also issue financial bonds,” he said, a reference to an issuance originally anticipated last fall.North America SlumpFor its latest three-month period, Nissan posted an operating profit of 23 billion yen, short of analysts’ average estimate for 59 billion yen. Quarterly sales fell 18% to 2.5 trillion yen, missing analysts’ prediction for 2.7 trillion yen.“There’s no magic potion,” said Bloomberg Intelligence analyst Tatsuo Yoshida. “They’re going to have to make bold cutbacks in production.”Revenue and income fell in all of Nissan’s core sales regions, including in China and its home market of Japan. In North America, its largest and most lucrative market, profits fell by more than 25% compared to a year ago to 21.6 billion.“We know exactly what the problem is,” said Ashwani Gupta, Nissan’s chief operating officer. “We are confident that the U.S. will come back” once eight new models are launched over the next two years, he said.Ghosn DragWorldwide sales volumes at Nissan slid 8.4% to 5.18 million vehicles last year, pulling down its combined performance with Renault to third place globally after top-ranked Volkswagen AG and — for the first time since 2016 — Japanese rival Toyota Motor Corp. For the year through March, Nissan cut its automobile sales outlook by 3.6% to 5.05 million units.The results are beginning to overshadow Nissan’s other big headache, the charges against Ghosn on alleged financial crimes. Sluggish profits, stuck near a decade low, also weaken the Japanese company’s position in its three-way carmaking alliance.Ghosn, who has denied all charges, fled trial in Japan late last year, making his way to Lebanon in a private jet. The former executive and Nissan are now suing each other.After years of sales incentives that eroded margins and pushing businesses to buy cars, CEO Uchida said Nissan needs to rebuild its brand image and focus on appealing to retail customers.China ImpactUchida, Nissan’s third CEO since 2017, joined Nissan in 2003 from metals and machinery company Nissho Iwai Corp. He was most recently in charge of the Japanese automaker’s operations in China.The CEO said that Nissan plans to reopen three of its Chinese factories shuttered by the coronavirus outbreak from Feb. 17 and two others from Feb. 20. Those plants have been closed since late January as a planned break for the Lunar New Year was extended amid concerns about the spread of the contagion.“Considering that we won’t resume production until mid-February, that will have some impact” on income and revenue in the current quarter, Uchida said.\--With assistance from Tsuyoshi Inajima.To contact the reporters on this story: Chester Dawson in Southfield at cdawson54@bloomberg.net;Tara Patel in Paris at tpatel2@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Reed Stevenson, Frank ConnellyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Scandal-hit Nissan sinks into red ink as sales plummet
    Autoblog

    Scandal-hit Nissan sinks into red ink as sales plummet

    Nissan Motor Co CEO Makoto Uchida holds a news conference on earnings Feb. 13 at the company's headquarters in Yokohama, Japan. TOKYO — Nissan, reeling from a scandal over its former superstar executive Carlos Ghosn, sank into red ink in the latest quarter as its vehicle sales fell around the world, and the Japanese automaker slashed its profit forecast for the year. Nissan Motor Co. reported Thursday a loss of 26 billion yen ($237 million) for October-December, a reversal from the 70 billion yen ($638 million) profit recorded a year earlier — a drop of $875 million.

  • Financial Times

    Nissan posts its biggest loss in a decade

    Nissan has issued its second profit warning in three months and reported its biggest quarterly loss in a decade after sales tumbled worldwide. For the October to December quarter, Nissan reported a net loss of ¥26.1bn ($238m) — its biggest since the fourth quarter of 2009 — as vehicle sales fell 18 per cent in the US, its second-largest market after China. “The decline in sales and deterioration in earnings have exceeded our expectations,” Mr Uchida said on Thursday.

  • Nissan slashes profit outlook after sales slide, says more restructuring needed
    Reuters

    Nissan slashes profit outlook after sales slide, says more restructuring needed

    Nissan Motor Co on Thursday cut its annual operating profit forecast by 43%, hit by a slump in vehicle sales and heaping more pressure on new management to fix a company still reeling from the scandal surrounding former leader Carlos Ghosn. Nissan's sharply waning earnings power has already prompted plans to slash jobs, close manufacturing sites and drop product offerings, sources have said, as the automaker steps back from an aggressive pursuit of market share championed by Ghosn. The dismal outlook comes after Japan's No. 2 automaker posted its first quarterly net loss in nearly a decade, and contrasts with upbeat forecasts from rivals Toyota Motor Corp and Honda Motor Co.

  • Benzinga

    Nissan Demands $90M In Damages From Former Chairman Carlos Ghosn

    Nissan released a statement on Wednesday saying it had filed a civil lawsuit against Ghosn at the Yokohama District Court in Kanagawa, Japan. The company is seeking damages related to Ghosn’s alleged breach of fiduciary duty as a company director and for allegedly misappropriating Nissan’s resources and assets.